YOUNGSTOWN, Ohio – The Small Enterprise Administration has released a new FAQ for companies looking for Shuttered Venue Operators Grants, outlining who’s eligible, how a lot cash they will obtain and the way the funds can be utilized.
Purposes for the cash from the $15 billion grant pool are usually not but open. Nevertheless, the SBA has stated it can put aside at the least $2 billion throughout the first 59 days of this system for venues with as much as 50 staff. Companies that acquired for Paycheck Safety Program loans after Dec. 27, 2020, are usually not eligible for Shuttered Venue Operators Grants.
Software intervals can be primarily based on how a lot income a venue misplaced between April and December, with the primary 14 day reserved for those who had year-over-year losses of 90% or extra, adopted by these with losses between 70% and 89% for the second two-week interval.
After the primary and second precedence awards are made, functions will open for entities that had 25% or larger loss between comparable quarters.
Funds can be utilized to pay for enterprise bills, together with ticket refunds, bills associated to stay productions and funds to unbiased contractors.
The record of venues eligible for the grant embody stay venue operators or promoters, theatrical producers, stay performing arts teams, museums, film theaters and expertise representatives. Some government-owned entities are additionally eligible, supplied it doesn’t function different varieties of companies. Companies will need to have been in operation as of Feb. 29, 2020, to use.
Not eligible are touring venues – entities will need to have outlined efficiency and viewers areas – and drive-in theaters.
Grant functions have to register on the federal System for Award Administration website, SAM.gov, to use. Purposes should use a DUNS identification quantity; particular person taxpayer or employer identification numbers won’t be accepted.
The complete FAQ could be learn HERE.
Pictured: Opening night time on the Robins Theater in Warren in December 2019.
Copyright 2021 The Enterprise Journal, Youngstown, Ohio.