The $16.25 billion Shuttered Venue Operators Grant (SVOG) program was created by the Economic Aid to Hard-Hit Small Businesses Nonprofits, Small Businesses, and Venues Act. It is a component of the Consolidated Appropriations Act, 2021 that was that was signed into law on December. 27 the 27th of December, 2020. The program’s administration falls on the Small Business Administration (SBA).
The SVOG was amended in the American Rescue Plan Act to provide grants equivalent to 45 percent of a venue’s gross earned revenues and the maximum amount of an award of grant set to $10 million. The eligible applicants who have up 50 full-time employees could draw funds from an emergency fund that was worth $2 billion. After a few delays The Shuttered Venue Operators Grant program opened for applications on the 26th of April, 2021.
The SVOG program began to get off slow and, by the 3rd of June 2021, it had only awarded 50 grants which represented just 1% or less of 10,262 applicants received to that time. 3 As as of Feb. 14th, 2022 nevertheless, $14.12 billion of Shuttered Venue Operators Grants had been given and $14.06 billion of the total paid out to recipients. 4 This is 12,856 initial and reconsidered regular grants as well as 9,142 additional grants, for total number of 21,998 Shuttered Facility Operators Grants granted by February. 14.
The eligibility requirements for an Shuttered Venue Operators Grant
In the open application process in order in order to receive an SVOG,, the applicant must be a representative of at least one of the kinds of venues, as defined in the Economic Aid Act: 6.
- Promoter or operator of a live venue
- Theatrical producers
- Live performing arts operator
- Museum operator
- Motion picture Theater operator
- Talent representative
- Any affiliate of an eligible entity has met the eligibility requirements
- All of these are run by a state government or local government is only an event
- It doesn’t have a business location that is located inside the United States, does not be primarily based in its own U.S., and does not contribute significantly in U.S. economy. U.S. economy through payment of taxes or the use of American materials, products, or labour.
- It was no longer in operation at the time of February. 29, 2020.
- This is an publicly traded business or is controlled and owned by a majority of the shareholders by an publicly-traded company.
- It shows live performances or sells items or services of sexual desire.
- A majority of the gross revenues for 2019 was derived directly from federal officials (not including disaster assistance).
- It is the owner or operator of theaters, venues, museums or talent agencies across more than one country. manages theatres, venues or talent agencies across the states of more than 10 and employed more than 500 people in February. 29, 2020.
- Five other companies with whom it has a relationship have also received Shuttered Venue Operators Grant award.
- Museums. other museums to that it’s affiliated received $10 million of SVOG funding.
