A “much-needed lifeline for live venues” is coming.
The Shuttered Venue Operators Grant (SVOG) will soon begin funding over $16 billion worth of pandemic relief to venues across the United States. Venues can apply for the long-awaited financial grant starting in April via the Small Business Administration (SBA).
This funding could potentially reimburse up to 45% of any given venue’s gross earned revenue. A reported $2 billion of the fund is reserved for venues with up to 50 full-time employees, with the maximum grant award set at $10 million.
SBA Administrator Isabella Casillas Guzman states:
The SBA knows these venues are critical to America’s economy and understands how hard they’ve been impacted, as they were among the first to shutter. This vital economic aid will provide a much-needed lifeline for live venues, museums, movie theatres and many more.