WASHINGTON, D.C., USA — Concert venues, theatres, and other live venues can apply for new assistance through the U.S. Small Business Administration or SBA.
The funds are meant to supplement businesses that were closed or shuttered during the pandemic.
Qualified businesses include:
- Live venue operators or promoters
- Theatrical producers
- Live performing arts organization operators
- Relevant museum operators, zoos, and aquariums who meet specific criteria
- Motion picture theater operators
- Talent representatives
- Each business entity owned by an eligible entity that also meets the eligibility requirements
Other requirements state that the venue or promoter must have been in operation as of February 29, 2020, and if they received a PPP loan on or after December 27, 2020, they will receive a reduced amount.
According to the SBA website, "eligible applicants may qualify for grants equal to 45% of their gross earned revenue, with the maximum amount available for a single grant award of $10 million. $2 billion is reserved for eligible applications with up to 50 full-time employees."
Grants will be based on average monthly revenue during 2019 multiplied by six (6) OR $10 million, whichever is less.
First, second, third, and supplemental priority will be given based on the total harm done during the pandemic. The funds will be given out over the next 8 weeks and beyond.
Payroll costs, rent, utility, scheduled mortgage payments, and several others listed on the SBA website are all acceptable uses. There are "not allowed uses" as well.
If you believe your venue or business is eligible to receive funding apply here.