Deadline: The following is a breakdown of important dates related to this program
- Rolling Application Deadline
Amount: The following is a breakdown of information related to program funding
- $15,000,000,000 total funding
- Maximum award amount:
- Entities in operation on January 1, 2019
- The lesser of an amount equal to 45% of their 2019 gross earned revenue or $10,000,000.
- Entities beginning operation after January 1, 2019
- The lesser of the average monthly gross revenue for each full month in operation during 2019 multiplied by 6 or $10,000,000
- Entities in operation on January 1, 2019
Eligible Applicants: The following entities are eligible to apply for funding through this program
- Live venue operators or promoters
- Theatrical producers
- Live performing arts organization operators
- Relevant museum operators
- Zoos and aquariums
- Motion picture theater operators
- Talent representatives
Please note: Applicants must have been in operation as of February 29, 2020 to apply. Venue or promoter must not have received a Paycheck Protection Program (PPP) loan on or after December 27, 2020.
Overview: Through the SVO Grants Program, the US SBA provides emergency assistance for eligible venues closed by the COVID-19 pandemic. 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. A breakdown of priorities and their respective funding timeline is as follows:
- First Priority (first 14 days of grant awards): Funding is restricted to entities that suffered a 90% or greater revenue loss between April 2020 through December 2020 due to the COVID-19 pandemic;
- Second Priority (next 14 days of grant awards): Funding is restricted to entities that suffered a 70% or greater revenue loss between April 2020 through December 2020 due to the COVID-19 pandemic;
- Third Priority (beginning 28 days after First & Second Priority Awards are made): Funding is restricted to entities that suffered a 25% or greater revenue loss between April 2020 through December 2020 due to the COVID-19 pandemic;
- Supplemental Funding (available after First & Second Priority Awards are made): Funding is restricted to recipients of the First and Second Priority round who suffered a 70% or greater revenue loss for the most recent calendar quarter (as of April 1, 2021 or later); and
- Unrestricted/Non-priority Round (begins 61 days after initial grant awards): Funding is open to entities of any size that suffered a 25% or greater revenue loss.
Eligible expenses include:
- Payroll costs;
- Rent payments;
- Utility payments;
- Scheduled mortgage payments (not including prepayment of principal);
- Scheduled debt payments (not including prepayment of principal) on any indebtedness incurred in the ordinary course of business prior to February 15, 2020;
- Worker protection expenditures;
- Payments to independent contractors (not to exceed $100K in annual compensation per contractor);
- Other ordinary and necessary business expenses, including maintenance costs;
- Administrative costs (incl. fees and licensing);
- State and local taxes and fees;
- Operating leases in effect as of February 15, 2020;
- Insurance payments; and
- Advertising, production transportation, and capital expenditures related to producing a theatrical or live performing arts production.
Ineligible expenses include:
- Purchase of real estate;
- Payments on loans originated after February 15, 2020;
- Investments or loans;
- Contributions or other payments to, or on behalf of, political parties, political committees, or candidates for election; and
- Any other use prohibited by the Administrator.