Update January 29: SBA has posted their FAQs for this grant (click here), application opening is still TBA.

Update January 25: While full guidance has not yet been issued, we have received the following information that answers a few common questions for this program:

  1. While not yet posted on the SBA’s website, we have been told that while the bill language states you cannot receive both a SVOG grant and PPP loan, the SBA is going one step further and saying that you cannot apply for both a SVOG grant and a PPP loan either. So you will have to choose one path for funding.
  2. Original language on the SBA website stated that groups with less than 50 FTEs would be the first considered. This was not something reflected in legislative language, and in fact seemed to be against the bill language. That has now been corrected – the priority for disbursement of funds will be based on the revenue loss (90% in first wave, 70% in second) in both the full grant category ($13 billion) and small venue category ($2 billion).
  3. If you go the PPP route, there is new guidance that, once approved, the bank must disperse within 10 business days or they must rescind the loan.

Update January 14: The Small Business Administration (SBA) now has a dedicated webpage for this grant here. Bookmark this SBA page for updates.

Update December 30, 2020: The National Independent Venue Association (NIVA), who led the charge on this funding source, has a dedicated webpage on this grant program. Be sure to check it out for more insight if your question isn’t answered here. Click Here >>

Within the Omnibus bill that includes regular funding for the government, as well as $900 billion in additional COVID relief, and just signed by President Trump, is $15 billion for shuttered live venues. Known first as the Save Our Stage (SOS) Act, filed this summer, and now the Shuttered Venue Operator (SVO) grant, this funding was folded in to the COVID relief bill after a large grassroots push across the country.

Here is a breakdown of the bill, which we will update as more information is available.

The full text can be found on page 2124 of the full bill >>

The Basics

How Much is Available?

$15 billion is set aside for “shuttered live venues”, with $2 billion of it restricted for smaller venues (50 or less FTEs).

What is it For?

Nonprofit / For-profit live performance venues and cultural institutions that show a Gross Revenue loss of at least 25% when comparing the same quarter in 2019 and 2020.

Grant or Loan?

Payments are in the form of grants that do not have to be repaid, nor is a match required.

When / Where Can We Apply?
Details on application windows and exact requirements have not yet been issued. The Small Business Administration (SBA) will administer the program.

The SBA has 21 days from the bill becoming law to issue full guidance.

Eligible Entities

Only independently-owned entities, described below, are eligible. Venues can be for-profit, nonprofit, or government-owned, and employ less than 500 FTEs.

FTE calculation: 30+ hours = 1 FTE // 10-30hrs = .5 FTE
Bill allows for the SBA to create unique formula for seasonal workers (not yet released).

Live Performance Venues

  • Open since February 29, 2020

  • Venue intends to reopen, or is already open.

  • Venue has dedicated audience space, sound and lighting equipment, and engages at least two of the following types of workers (contract or on payroll):

    • Sound Engineer, Booker, Promoter, Stage Manager, Security, Box Office Manager

  • Paid admission is required to events. Tickets available 60 days prior.

    • Exceptions made for fundraisers.

    • Nonprofit venues who offer free performances must be operated primarily by paid employees.

  • Performances are marketed to the public.

  • 70% of revenue is generated by tickets, nonprofit educational initiatives, food/beverage/merch sales.

  • Performers are paid (contract, percentage, flat fee, other)

Movie Theaters

  • Must have projection booth.

  • Dedicated, fixed, audience seating in an auditorium.

  • Screen required in auditorium.

  • Paid Tickets sold.

  • Marketed to public.

Museums

  • Museum use is principal activity.

  • Indoor exhibition space is critical to operations, and impacted by pandemic closures.

  • Must have auditorium / lecture hall space with fixed seating and regular programming.

  • Must be nonprofit.

Talent Representation

  • Booker for entertainers of all varieties essentially.

In-Eligible: Venues cannot operate in more than one country, nor in more than ten (10) states. In simple terms – groups/venues like Live Nation and Regal Cinemas are not eligible.

Eligible Expenses

Eligible Period: Must compare the same quarter from 2019 versus 2020.

A wide array of expenses, during the defined period, are eligible for this grant program:

  • Mortgage / Rent

  • Payroll

  • Utility Payments

  • Debt Payments (for debt incurred prior to February 2020, no pre-payment of principal)

  • 1099 Contractor Payments ($100k max for individual contractor)

  • Maintenance

  • Administrative Costs (Taxes, Fees, Licenses, Insurance, etc)

  • Programming Costs

In-Eligible Expenses

  • Real Estate purchases

  • Loan payments (loans received after February 2020)

  • Investment or re-loaning

  • Political contributions

Other Details

  • Priority Grants

    • First Priority Period (First 14 Days of Grants): Applicant shows a loss of 90% or greater during reporting period.

    • Second Priority Period (Next 14 Days of Grants): Applicant shows a loss of 70% or greater during reporting period.

  • $2 Billion set aside for smaller entities with less than 50 FTEs.

  • Max Grant Award: $10,000,000

  • Supplemental Grants can be awarded to recipients after April 21, 2021, if funds are available.

  • Grantees have one year to spend money.

  • Audit Timeframe:

    • Payroll: 4 years after grant issued

    • Other: 3 years after grant issued

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