The U.S. Small Business Administration is currently working on the Shuttered Venue Operators Grant Program. This new program was passed in the most recent stimulus bill, adding to the mix of business-relief programs designed to address economic losses due to the coronavirus pandemic.
The bill sets aside $15 billion for the program and qualifying venues can get up to $10 million in grant money.
They are NOT ACCEPTING applications yet, but you can begin evaluating the eligibility requirements below.
The Shuttered Venue Operators (SVO) Grant program was established by the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act, signed into law on December 27, 2020. The program includes $15 billion in grants to shuttered venues, to be administered by the SBA’s Office of Disaster Assistance.
Eligible applicants may qualify for SVO 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.
For additional details, see our Shuttered Venue Operators Grants Frequently Asked Questions (revised 02-05-21).
Cross Program Eligibility on SBA Coronavirus Relief Options
Eligible entities include:
Other requirements of note:
Detailed information on eligibility requirements coming soon.
Grant amount will be either:
SBA is in the process of setting up the grant program and is not yet accepting applications. Those who have suffered the greatest economic loss will be the first applications processed under the following schedule:
Note: On January 20, 2021, SBA updated the proposed plan for issuing Shuttered Venue Operators Grants during the first and second priority periods. To clarify, priority awardees will not need to satisfy the small employer set-aside. During the first 59 days of opening the SVO Grants, SBA will reserve no less than $2 billion of program funding for grants to entities that have no more than 50 employees.
1st 14 days of grant awards
Entities that suffered a 90% or greater revenue loss between April 2020 through December 2020 due to the COVID-19 pandemic.
Next 14 days of grant awards
Entities that suffered a 70% or greater revenue loss between April 2020 through December 2020 due to the COVID-19 pandemic.
Beginning 28 days after First & Second Priority Awards are made
Entities that suffered a 25% or greater revenue loss between one quarter of 2019 and the corresponding quarter of 2020.
Available after all Priority Periods have passed
Recipients of First, Second, and Third Priority round awards who suffered a 70% or greater revenue loss for the most recent calendar quarter (as of 04-01-21 or later)
Funds may be used for specific expenses, which include:
Grantees may not use award funds to:
Grantees will be required to maintain documentation demonstrating their compliance with the eligibility and other requirements of the SVO Grant program. They must retain employment records for four years following their receipt of a grant and retain all other records for three years.
Application and additional guidelines will be posted when available.