The U.S. Small Enterprise Administration (SBA) is ready to start accepting purposes for the Shuttered Venue Operators Grant (SVOG), a program created to fund music venues with grants equal to 45 % of their 2019 income.. The application portal will open on April 8, and the SBA is internet hosting a webinar on the applying course of from 2:30 to four p.m. ET on March 30.
“The SBA is aware of these venues are crucial to America’s economic system and understands how arduous they have been impacted, as they had been among the many first to shutter,” SBA Administrator Isabella Casillas Guzman mentioned in a press launch. “This important financial assist will present a much-needed lifeline for reside venues, museums, film theaters and plenty of extra.”
The SVOG program was established by the Economic Aid to Hard Hit Small Businesses, Nonprofits and Venues Act—previously often known as Save Our Phases—which was handed into regulation on December 27, 2020. Earlier this month, three members of congress sent a letter to the SBA questioning the delay in launching this system.