Grant applications to open soon for performance venues affected by COVID-19
LUBBOCK, Texas (KCBD) - The Small Business Administration is preparing to accept applications for the “Shuttered Venue Operators Grant,” an effort to bring aid to theatres, museums and concert venues affected by COVID-19.
The Lubbock Cultural Arts Foundation issued a tweet Monday, notifying venue operators that the Small Business Administration (SBA) will begin accepting applications April 8, with a webinar for applicant information on March 30:
According to the SBA website, 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. Those who have suffered the greatest economic loss will be the first applications processed.
Venues listed as eligible include: live venue operators or promoters, theatrical producers, live performing arts organization operators, museum operators, zoos and aquariums (who meet specific criteria), motion picture theater operators and talent representatives.
The SBA states venues must have been in operation as of February 29, 2020. Venues or promoters who received a PPP loan on or after December 27, 2020, will have the SVOG reduced by the PPP loan amount.
Approved uses for the funding, according to the SBA, include:
- Payroll costs
- Rent payments
- Utility payments
- Scheduled mortgage payments (not including prepayment of principal)
- Scheduled debt payments (not including prepayment of principal on any indebtedness incurred in the ordinary course of business prior to February 15, 2020)
- Worker protection expenditures
- Payments to independent contractors (not to exceed $100,000 in annual compensation per contractor)
- Other ordinary and necessary business expenses, including maintenance costs
- Administrative costs (including fees and licensing)
- State and local taxes and fees
- Operating leases in effect as of February 15, 2020
- Insurance payments
- Advertising, production transportation, and capital expenditures related to producing a theatrical or live performing arts production. (May not be primary use of funds)
Venues given grants will be required to maintain documentation showing compliance with requirements, with employment records for four years following their receipt of a grant and retain all other records for three years.
To sign up to be informed when applications open, click here.
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