SHUTTERED VENUE GRANT

Under the new Emergency Coronavirus Relief Act of 2020 signed into law on December 27, 2020, the Small Business Administration will disburse $15 billion in grants to shuttered venues. There is $2 billion set aside for venues with less than 50 full-time employees. Venues, theaters, museums and zoos that saw a 25 percent reduction in revenue may receive grants of up to $10 million with the option for a supplemental grant equal to 50 percent of the initial grant.
 

ELIGIBILITY

  • Live venue operators or promoters, theatrical producers, live performing arts organization operators, museum operators, motion picture theatre operators, or talent representatives

  • 25 percent reduction in revenue due to the pandemic

  • Must not have received a PPP loan

  • For the first 14 days of the program, only entities with 90 percent or greater revenue loss will be awarded

  • In the 14 days following the first round, only entities with 70 percent or greater revenue loss will be awarded

  • Following these two rounds, grants will be awarded to all other eligible entities
     

FUNDS

Funds may be used for specific expenses, which include:

  • Payroll

  • Rent

  • Utilities

  • Personal Protective Equipment

 

Application and additional guidelines will be posted when made available through the SBA.

 

 

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© 2020 by ALLIANCE SBDC

The Small Business Development Center at the Starved Rock Country Alliance

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