YOUNGSTOWN, Ohio – The Small Business Administration released a new FAQ for companies seeking grants for Shuttered Venue operators that outlines who is eligible, how much money they can get, and how the funds can be used.
Applications for the money from the $ 15 billion grant pool are pending. However, the SBA has announced that it will allocate at least $ 2 billion for venues with up to 50 employees in the first 59 days of the program. Businesses that received Paycheck Protection Program loans after December 27, 2020 are not eligible for closed venue operator grants.
The application deadlines are based on how much revenue a venue lost between April and December. The first 14 days are reserved for those with annual losses of 90% or more, followed by those with losses between 70% and 89% for the second period of two weeks.
After the first and second priority have been assigned, applications are made for companies that have had a loss of 25% or more between comparable quarters.
Funds can be used to pay for business expenses, including ticket refunds, live production expenses, and payments to independent contractors.
The list of eligible venues includes live venue operators or organizers, theater producers, live performing arts groups, museums, cinemas and talent representatives. Some state-owned companies are also eligible, provided they do not operate other types of companies. Companies must be up and running on February 29, 2020 to apply.
Travel venues – companies must have defined performance and audience areas – and drive-in cinemas are not eligible for funding.
Grant applications must register on the Federal System for Award Management website (SAM.gov) in order to apply. Applications must use a DUNS identification number. Individual tax or employer identification numbers are not accepted.
The full FAQ can be read HERE.
Pictured: Opening night in December 2019 at the Robins Theater in Warren.
Copyright 2021 The Business Journal, Youngstown, Ohio.