At Alecan, we believe in providing value and going beyond our duties to help customers.
After talking to a handful of our wedding venue clients we realized that they were not yet aware of the most recent government effort in helping shuttered event venues due to the COVID-19. Many of them had given up hope in getting help from the government.
By writing this article we hope to bring attention and awareness to the most recent government grant to those that are in event venue industry. We hope that this can provide some much-needed relief to an essential industry in our economy.
Check out the details below for the SVO Grant Program.
The SVO Grant for Event venue operators helps to support the damage of the Coronavirus Pandemic.
The Small Business Administration (SBA) has recently opened a Grant targeted to venues called a “Shuttered Venue Operators Grant.” It has been realized that most venue owners do not know about it as it is relatively new.
What is an SVO Grant Program?
The Shuttered Venue Operators (SVO) Grant program is due to commence in the near future. The SBA will support Venue operators by providing monetary relief to help live performances, presenters, talent representatives, theatre producers, and cinemas.
A key contributor to the program’s building has been the National Independent Venue Association (NIVA), as the association was intrinsic in creating Save Founded, which preserves independent venues and promotion services nationwide.
The Impact On Local Culture and the Arts
In the early onset of the Coronavirus Pandemic, many Cultural and Arts venues encountered severe losses and jobs in the arts being unsupported.
However, in the current climate, the grant program is now available to all qualifying arts businesses. It will most definitely bridge a gap and ensure that the Arts and Cultural Venue sectors are provided with monetary tools to ensure that they survive.
What Venues Are Allowed to Apply?
Initially, the grant will support small arts businesses and organizations specifically for venues supporting up to 50 employees. The SBA will also stagger applications to ensure that the following strategies take place: During the first 14 days, it will be open to those business venues whose total revenue during the period sits at 10%; in the following 14 days, the grant will be available to all venues and arts-related businesses whose revenue is 30% or less, it will be open to all Cultural and Arts related venues.
However, the following big arts corporations and those that support large endowments supporting 500 or more employees and are based on explicit or activities of a sexual nature, such as strip clubs, will not be allowed to apply for the grant.
Who Can Apply
To meet the criteria for applying for the SVO Grant program, you will need to meet the following points:
- You will have experienced a reduction of at least 25% in your grossed earned revenue in at least one of the quarters in 2020.
- You intend to resume operations and services in the future.
- Your business was fully operational as of February 29, 2020.
You will provide the following evidence to support your application:
- You will have paid artists.
- You will have charged admission to live events.
- Your business has earned 70% of revenue from live events.
- You have advertised events to the general public.
Finally, it is now crucial for the Arts and Cultural sectors to embrace this opportunity and this valuable available support system. The Small Business Association (SBA) has funneled $15 billion in the arts sectors to ensure that it survives for future generations and helps to stabilize the growth of the US economy markets.
Where to Apply for Shuttered Venue Operators (SVO) Grant
To learn more about the guidelines and where to apply for your SVO Grant we have curated a list of links to help guide you through the process.
The SBA will soon start processing applications for the SVO Grant meaning you should begin gathering any and all documentation necessary.
Please visit the links below for further information on how to apply for the grant.
Resource:
SBA.GOV – Shuttered Venue Operators Grant
SBA Approved List Of Lenders
For any further questions or additional information, email SVOGrant@sba.gov
