Disaster Preparedness Economy Finance

COVID relief: Shuttered Venue Operators Grant program opens. What you need to know

UPDATE: The SBA ran into technical difficulties and has paused the Shuttered Venue Operators Grant Program while it works with the vendor to reopen the program.

The Small Business Administration i launched its $16.25 billion Shuttered Venue Operators Grant program today, but the application process will go in steps.

  • The first 14 days: open to businesses that suffered a 90% or greater revenue loss between April and December 2020 due to the Covid-19 pandemic.
  • The second 14 days: open to businesses that suffered revenue losses of 70% or greater.
  • After 28 days: businesses with a loss greater than 25% will be able to apply for grants.

Who’s eligible: live venue operators, promoters, theatrical producers, live performing arts organizations, museums, zoos, aquariums and theaters.

How much: Grants will be for up to $10 million, depending on the business’ average monthly gross revenue for each full month a company was operational, which is then multiplied by six and capped at $10 million.

What can funds be used for: payroll, rent, utility payments, scheduled mortgage and debt payments, personal protective equipment, independent contractor payments, administrative costs, state and local taxes and fees, insurance and capital expenditures.

“Concerts, plays, dance performances, movie premieres, museum exhibits – these are the lifeblood of culture and community, and often the anchor for travel, tourism and neighborhood food and retail stores. We know that for the stage and venue operators across the nation that help make this culture happen, the pandemic has been devastating,” said SBA Administrator Isabella Casillas Guzman.

Eligible businesses can find out more here.

Here is a rundown of SBA COVID relief programs.

Consultants at Florida SBDC at FIU, as well as other small business development centers in other parts of the state, can help business owners sort through the alphabet soup of pandemic relief programs and determine if the assistance programs are right for them.

Please send GrowBiz topic suggestions and feedback to GrowBiz@FIU.EDU.

Leave a Comment