Grants will be based on average monthly revenue during 2019 multiplied by six (6) OR $10 million, whichever is less. According to the SBA website, “eligible applicants may qualify for grants equal to 45% of their gross earned revenue, with the maximum amount available for a single grant award of $10 million. $2 billion is reserved for eligible applications with up to 50 full-time employees.” First, second, third, and supplemental priority will be given based on the total harm done during the pandemic. The funds will be given out over the next 8 weeks and beyond.
Live venue operators or promotersTheatrical producersLive performing arts organization operatorsRelevant museum operators, zoos, and aquariums who meet specific criteriaMotion picture theater operatorsTalent representativesEach business entity owned by an eligible entity that also meets the eligibility requirements Qualified businesses include:
Other requirements state that the venue or promoter must have been in operation as of February 29, 2020, and if they received a PPP loan on or after December 27, 2020, they will receive a reduced amount. The funds are meant to supplement businesses that were closed or shuttered during the pandemic.
Learn about the program & apply: https://t.co/zvZHfG21rp#SmallBusiness pic.twitter.com/QdwBzeZheq — Erie County, NY (@ErieCountyNY) April 8, 2021 TODAY at noon: @SBAgov will officially open the SVOG application portal, with more than $16.2 billion available to support live venues like concerts, plays, & performances, + movie premieres, & museums.
If you believe your venue or business is eligible to receive funding apply here. Payroll costs, rent, utility, scheduled mortgage payments, and several others listed on the SBA website are all acceptable uses. There are “not allowed uses” as well.
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