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Shuttered Venue Grant: Starts April 8, $10 Million For Your Venue! - YouTube
Channel: Merchant Maverick
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dakovic 19 pandemic has impacted
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businesses
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across the board but few have been
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ground to a complete halt
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the way that indoor entertainment venues
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have
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to help these chartered venues stay in
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business long enough to return once the
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pandemic is over
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congress has approved a new grants
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program
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specifically targeted at businesses that
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hosts entertainment both live
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and recorded in just a moment i'm going
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to cover what you need to know about the
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new
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shuttered venue grants
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the new sba shuttered venue operator
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grant program
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which passed in the december 2020
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stimulus bill
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has 15 billion dollars in relief aid
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available qualifying venues can get up
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to 10 million dollars in grant money
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through the program an amount that
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completely
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eclipses the 10 dollars maximum
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available through idle grants
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and unlike ppp this isn't a loan that is
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forgivable
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under under specific circumstances it's
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a grant
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in other words free money you can use
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the money to receive from a shuttered
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venue grant for a number of different
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purposes
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including payroll rent utilities
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ppe barriers and other coveted
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protection measures
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maintenance necessary insurance payments
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and more
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for the full list you can refer to our
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article link in the description below
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and please
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be aware there are a few restrictions on
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how you can use the money too
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for instance you cannot use funds to buy
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real
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estate or make investments or loans
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here's another important note
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you can get an svo grant and around 2
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ppp
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loan but if you receive the ppp loan
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before
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december 27 2020 you can still qualify
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for the shuttered venue operators grant
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program so let's look at who qualifies
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for the shuttered venue operators grant
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program
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the list includes live venue performing
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arts
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operators and promoters and theatrical
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producers
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this means it's your principal activity
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where in a cover charge
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is used to pay performers a percentage
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of proceeds
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at least 70 of your revenue had to come
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from ticket sales
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refreshments merchandise qualified fees
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or educational initiatives motion
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picture
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theater operators in other words you
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show movies for a fee
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you have to have at least one auditorium
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with a movie screen
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and fixed seating and at least one
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projector
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you also have to market movies in any
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media museum
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operators you operate a public tribal
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or private non-profit institution for an
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approved purpose
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heritage aesthetics educational the
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museum needs to be the main business
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activity
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it needs to have an indoor exhibition
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space
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and at least one auditorium or
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performance space
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with fixed seating and regular events
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zoos and aquariums can qualify talent
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agents seventy 70 of your job must be
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representing artists who perform live
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and those performers must be paid based
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on ticket sales
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at live venues additionally to qualify
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you must have been fully operational by
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february 29th
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2020 had a loss of at least 25 in
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revenue in at least
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one 2020 quarter relative to the same
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quarter in 2019
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have reopened or planned to reopen or
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to resume representation if you're an
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agent now some disqualifying
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circumstances
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include your business is a publicly
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traded company you got 10
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or more of your 2019 revenue from
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federal funding
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you've received a ppp loan after
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december 27
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2020. your business is not located in
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the us and does not operate
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primarily in the us live performances
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and or products and services
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are mainly of a sexual nature again for
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a full list
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refer to our article or the sba's handy
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dandy faq
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now let's focus on how to apply for a
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shuttered venue grant
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the sba is administering the grants
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directly so you'll apply through the
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sba's portal
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at the time i'm filming this the sba is
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still setting up the program
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and isn't accepting applications yet so
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you
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want to keep an eye on the sba site for
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when the program
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opens during the first 59 days that the
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svo grant program is open
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2 billion of dollars will be set aside
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specifically
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for venues with 50 employees or less
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larger venues with more than 50
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employees can still apply for grant
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during this period
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provided they meet with the other
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requirements for being
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priority awardees as described
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right after during the first 14 days of
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the program's opening
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applicants that experience a 90 or
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greater loss of revenue between
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april 1st 2020 and december 31st 2020
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compared to the same 2019 period will be
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eligible
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this will be known as the first priority
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group during the next 14 day window
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the threshold lowers to 70 or greater
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this will be the second priority group
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28 days after the svo grant program's
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opening
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the threshold lowers to 25 or greater
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additionally supplemental funding will
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be available to first
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and second priority grand recipients
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that suffered a 70
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or greater revenue loss for the most
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recent calendar quarter as of april 1st
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2021 or later and just a final note
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if awarded a grand you'll need
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to maintain documentation and
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employment records to show you've
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complied
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with the requirements of the program
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leave your questions in the comments
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and good luck with your application
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