Shuttered Venue Operators (SVO) Grant

Posted on January 20, 2021 in Mission Minded Nonprofits

Are you a performing arts organization or museum that has been affected by COVID-19? You may be eligible for the Shuttered Venue Operators (SVO) Grant.

The 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 is administered by the Small Business Administration (SBA).

Eligibility

The following types of entities are eligible for funding.

Live venue operators or promoters
Theatrical producers
Live performing arts organization operators
Relevant museum operators, zoos and aquariums who meet specific criteria
Motion picture theater operators
Talent representatives

Entities must also have been in operation as of February 29, 2020 and must not have received a PPP loan on or after December 27, 2020 to be eligible.

Grant Amount

An eligible entity that was in operation on January 1, 2019, the lesser of an amount equal to 45% of their 2019 gross earned revenue OR $10 million.

An eligible entity that began operation after January 1, 2019, the lessor of the average monthly gross revenue for each full month in operation during 2019 multiplied by 6 OR $10 million.

Eligible Costs

Funding may be used for the following costs.

Payroll costs
Rent payments
Utility payments
Scheduled mortgage payments (not including prepayment of principal)
Schedule debt payments (not including prepayment of principal) or any indebtedness incurred in the ordinary course of business prior to February 15, 2020)
Worker protection expenditures
Payments to independent contractors (not to exceed $100,000 in annual compensation per contractor)
Other ordinary and necessary business expenses, including maintenance costs
Administrative costs (including fees and licensing)
State and local taxes and fees
Operating leases in effect as of February 15, 2020
Insurance payments
Advertising, production transportation, and capital expenditures related to producing a theatrical or live performing arts production (may not be primary use of funds)

Application

The SBA has yet to open the application process for the grant; however, small businesses who have suffered the greatest economic loss will be the first applications processed under the following schedule.

First Priority – 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 (up to 50 employees)

Second Priority – 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 (up to 50 employees)

Third Priority – Beginning 28 days after first & second priority awards are made

Entities that suffered a 25% or greater revenue loss between April 2020 through December 2020 due to the COVID-19 pandemic (up to 50 employees)

Supplemental Funding

Recipients of 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) (up to 50 employees)

Unrestricted; open to entities of any size