SVO Guide for COVID-19 Relief Funding for Shuttered Venues
The Consolidated Appropriations Act, 2021 (CAA) provided $900 billion in new COVID-19 relief funding and was signed into law on December 27, 2020. Title III of the CAA, entitled Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act, introduced a new $15 billion grant program to be administered by the U.S. Small Business Administration (SBA). The American Rescue Plan Act (ARPA) enacted in March of 2021, provided another $1.25 billion to the program. This program offers critical support for the nation’s performing art venues, movie theatres, and museums.
Eligible applicants may qualify for Shuttered Venue Operator (SVO) Grants equal to 45% of their gross earned revenue, with the maximum amount available for a single grant award of $10 million. $2 billion is reserved for eligible applications with 50 or fewer full-time employees.