Mon, Mar twenty second 2021 01:45 pm
Software window will open April 8
Congressman Brian Higgins introduced the Shuttered Venue Operators Grant (SVOG) software window is scheduled to open April 8. The grant program will supply over $16 billion in federal funding to assist efficiency venues struggling from the prices of the COVID-19 pandemic.
“Our native venues that present reside music and theater have been hit onerous by the COVID-19 pandemic as a result of difficultly of safely adapting their enterprise fashions to social distancing and public security tips,” Higgins stated. “These grants will get venues again on their ft and provides them a preventing likelihood till we will safely take pleasure in reside music once more.”
Higgins, a number of senators and Congress members joined the reside music business in supporting the “Save Our Levels” marketing campaign to advocate for a particular grant program for efficiency venues. Their efforts resulted within the SVOG program, a $15 billion grant program by way of the Small Enterprise Administration included within the COVID-19 reduction bundle handed in December (the Consolidated Appropriations Act). The American Rescue Plan added $1.25 billion extra to this system, and allowed venues to use for each the Paycheck Safety Program (PPP) and SVOG.
The SVOG program is open to reside venue operators or promoters, theatrical producers, reside performing arts group operators, related museum operators, zoos and aquariums who meet particular standards, movement image theater operators, expertise representatives, and companies owned by eligible entities. Companies will need to have been in operation as of Feb. 29, 2020. Grant awards will likely be calculated based mostly on 2019 income with a most award of $10 million. Grant funds could also be used to cowl “needed and unusual enterprise bills,” together with however not restricted to payroll, lease, utilities, employee safety expenditures and administrative prices.
Scheduled to open April 8, the primary 14 days of grant awards are reserved for entities that suffered a 90% or higher income loss from April by way of December 2020, with the next 14-day interval opening up to people who misplaced 70% or extra of their revenues. Afterward, grants will divulge heart’s contents to entities with a 25% or higher earned income loss between one quarter of 2019 and the corresponding quarter of 2020. Some entities might qualify for supplemental funds.
To make sure native, impartial venues have entry to those grants, $2 billion is reserved for entities with lower than 50 staff in the course of the first 59 days of this system.
Extra info on eligibility, purposes and use of funds might be discovered at https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/shuttered-venue-operators-grant. The SBA has released an FAQ to organize to use prematurely. To enroll in a notification when the appliance window opens, go to https://www.svograntportal.sba.gov/s/.