The US Small Business Administration will start accepting applications for the Shuttered Venue Operators Grant on April 8 and has launched a portal, www.svograntportal.sba.gov, for this particular relief program.
Eligible entities may be live venues, promoters, theatrical producers, live performing arts organizations, museums, movie theaters, and talent representatives. Eligible applicants may qualify for grants equal to 45% of their gross earned revenue, with the max amount available for a single grant award of $10 million. $2 billion is reserved for eligible applications with up to 50 full-time employees.
The American Rescue Plan Act amended the SVGO program so entities that applied and received a PPP loan after December 27 can also apply for an SVGO. The eligible entities SVGO would be reduced by the total loan amount of any PPP loans approved after December 27. If a SVOG is granted, that entity is no longer eligible to apply for a PPP loan.
FAQs, videos, and other details can be found on the dedicated website, www.sbs.gov/svogrant. To prepare for the portal opening April 8, potential applicants should register in the federal government’s System for award Management, www.sam.gov. This is required for any entity to receive an SVOG.