Operators of theaters and performance spaces left empty by the COVID-19 pandemic are getting access to a new federal lifeline.
The U.S. Small Business Administration on Thursday officially opened the online application process for its Shuttered Venues Operators Grant, a $16.2 billion program intended to support live venues, performing arts organizations, museums, movie theaters, promoters, theatrical producers, and talent representatives.
The program is open to venues that can demonstrate revenue losses of 25% or greater during any of the four quarters of 2020 compared to the prior year.
Eligible applicants may qualify for grants equal to 45% of their gross earned revenue up to a maximum amount of $10 million, SBA officials said.
The agency plans to sort applicants by need into different priority periods.
Entities that suffered a revenue loss of 90% or greater between April and December 2020 are expected to receive compensation first, followed by businesses with a 70% or greater loss and eventually enterprises with losses of 25% or more.
To qualify, applicants must have been fully operational on February 29, 2020.
A full list of eligibility requirements is available on the SBA’s website.
