The COVID-19 blow has dramatically hurt concert halls, theaters, museums or movie theaters. COVID-19. Have you heard about the “Shuttered Venue Operator Grants” (SVOG) that are designed for helping live event venues keep their open? The funds make up $16.2 billion. What if you need another type of business funding?
Shuttered Venue Operator Grant
There are many business owners still struggling even after some COVID-19 restrictions are no longer valid. A number of business owners received a Paycheck Protection Program (PPP) loan last year to keep their staff employed.
The Small Business Administration’s SVOG is the 1st large-scale grant program the agency has ever offered. Business owners having used a Paycheck Protection Program loan can apply for the Shuttered Venue Operators Grant. However, those having received an SVO grant can’t subsequently apply for a 1st- or 2nd-draw PPP loan.
Applying for SVOG & Other Business Funding Options
Live event venues can apply for the so-called “Shuttered Venue Operator Grant.” It’s not a loan, so you won’t be required to pay back the money. If the gross earned revenue of a shuttered venue made up $100.000 in 2019, and you received a PPP forgivable loan last year, in May, you might still be eligible for a $45.000 grant.
You can be eligible for the Shuttered Venue Operator Grants if you are:
- Live venue operators or promoters
- Theatrical producers
- Live performing arts organization operators
- Museum operators
- Motion picture theater operators
- Talent representatives
If you qualify for the grant, you can apply for the funds equal to 45% of your gross earned revenue, up to a maximum of $10 million. If you need other business funding options, you can apply to a reliable alternative online lender that provides the safest and cheapest financing options in the industry. This is the fastest and the most hassle-free access to the working capital you need in these challenging times.
So, the new grant program by SMB, which is called “Shuttered Venue Operators Grant,” is meant for helping eligible businesses to stay afloat. The SVO grant program’s funds make up over $16 billion and are offered to live venue operators. So, eligible movie theaters, concert spaces, museums, and performing arts organizations can apply for the financing.
Author Bio: Blair Thomas has been a music producer, bouncer, screenwriter and for over a decade has been the proud Co-Founder of eMerchantBroker, the highest rated high risk merchant account processor in the country that offers. He has climbed in the Himalayas, survived a hurricane, and lived on a gold mine in the Yukon. He currently calls Thailand his home with a lifetime collection of his favorite books.