Entertainments In The USA Need Shuttered Venue Operator Grant

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Shuttered Venue Operator Grant

The COVID-19 pandemic period hit the entertainment industry hard, with many businesses forced to close their doors due to lockdowns and restrictions. Many of them have not still recovered up to now due to a lack of access to funds. However, many do not know that they can get funding in different and reliable areas such as The Shuttered Venue Operator Grant to start their businesses again.

The Shuttered Venue Operator Grant (SVOG) was created to help these businesses stay afloat during these tough times. If you’re a business owner in the entertainment industry, this grant could be the lifeline you need to keep your doors open and your staff employed.

But how do you go about getting approved for the Shuttered Venue Operator Grant? That is what I have explained in this write-up: everything you need to know about the grant, including eligibility criteria, the application process, and how to increase your chances of getting approved.

I also shared some common mistakes to avoid. So, let’s get started and see how you can benefit from the Shuttered Venue Operator Grant!

What is the Shuttered Venue Operator Grant

The Shuttered Venue Operator Grant (SVOG) is a federal relief program designed to help live venue operators, promoters, theatrical producers, and certain museum operators impacted by the COVID-19 pandemic.

The grant was signed into law in December 2020 as part of the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act.

The program offers grants of up to $10 million to eligible businesses to cover expenses such as payroll, rent, utilities, and personal protective equipment (PPE). The SVOG is intended to provide these businesses with the financial support needed to keep their doors open, retain employees, and adapt to new safety protocols.

Eligible businesses can apply for the SVOG through the Small Business Administration (SBA) website.

How to increase the chances of getting approved for the Shuttered Venue Operator Grant

With so many applicants vying for limited funds, it’s important to know how to increase your chances of getting approved. Here are some tips on how to do just that:

First and foremost, it’s important to make sure you’re eligible for the program. To qualify for the Shuttered Venue Operator Grant, your business must have been in operation as of February 29, 2020, and have experienced a revenue loss of at least 25% due to the pandemic.

Additionally, your business must fall into one of the eligible categories, which include live venue operators, theatrical producers, and talent representatives, among others.

Once you’ve determined your eligibility for Shuttered Venue Operator Grant, it’s important to gather all the necessary documentation and information. This includes your tax returns, financial statements, and other relevant documents that demonstrate your business’s revenue loss.

You’ll also need to provide a detailed description of how the funds will be used, so be sure to have a solid plan in place.

Another important factor to consider is timing. The Shuttered Venue Operator Grant program has a limited amount of funds available, and once they’re gone, they’re gone. So, it’s important to apply as soon as possible and to make sure your application is complete and accurate. You don’t want to miss out on the opportunity to receive this critical financial assistance.

By following these tips, you’ll be well on your way to increasing your chances of getting approved for the Shuttered Venue Operator Grant program.

 

Shuttered Venue Operator Grant.

You will also like to Read: HOW TO SECURE GRANTS IN COLORADO FOR SMALL BUSINESS

Common mistakes to avoid when applying for the ‘Shuttered Venue Operator Grant’

Here are some of the most common mistakes to avoid when applying for the Shuttered Venue Operator Grant:

The first mistake to avoid is failing to meet the eligibility requirements. Before you even start the application process, make sure that your business meets all of the eligibility criteria. Your business must have been in operation as of February 29, 2020, and must have experienced a revenue loss of at least 25% due to the pandemic.

Additionally, your business must fall into one of the eligible categories, which include live venue operators, theatrical producers, and talent representatives, among others.

Another mistake to avoid is not providing accurate and complete information. When filling out your application, it’s important to provide all of the requested information and to make sure that it is accurate and up to date. Any inconsistencies or errors could result in your application being denied.

Timing is also crucial when it comes to applying for the SVOG program. With limited funds available, it’s important to apply as soon as possible to increase your chances of receiving funding. Waiting too long to apply could result in missing out on this critical financial assistance.

Failing to provide a detailed description of how the funds will be used is another mistake that applicants make. Your application should include a thorough and specific plan for how you will use the funds to support your business. Be sure to provide as much detail as possible, including projected costs and timelines.

It’s important to stay informed about any updates or changes to the program. The Small Business Administration (SBA) has made updates to the program since it was first introduced, so it’s important to stay up to date on any changes that may affect your application.

You will also like to Read: 5 Guaranteed Small Business Grants in Georgia, and the Amount They Offer

Requirements for Application of Shuttered Venue Operator Grant

To apply for the Shuttered Venue Operator Grant program, businesses must meet certain eligibility requirements, including:

  • Business type: The SVOG program is available to live venue operators or promoters, theatrical producers, live performing arts organization operators, relevant museum operators, zoos and aquariums who meet specific criteria, motion picture theater operators, talent representatives, and other eligible entities that have been impacted by the COVID-19 pandemic.
  • Revenue loss: Businesses must demonstrate a revenue loss of at least 25% due to the COVID-19 pandemic in one or more quarters of 2020 compared to the same quarter in 2019. Alternatively, businesses that were not in operation in 2019 but were in operation as of February 29, 2020, may compare their quarterly revenues to their average monthly revenue for January and February 2020.
  • Operations in the United States: The business must have been in operation as of February 29, 2020, and must have a principal place of business in the United States.
  • Size of the business: The business must have 500 or fewer employees, including full-time and part-time employees, at the time of the application.
  • Use of funds: The funds received through the SVOG program must be used for specific expenses, including payroll costs, rent, utilities, insurance, and other ordinary and necessary business expenses.
  • Other federal funding: Businesses that have received a Paycheck Protection Program (PPP) loan on or after December 27, 2020, are not eligible for the SVOG program. However, businesses that have received PPP loans before that date may still be eligible for the SVOG program.

These are some of the main requirements for the application of the Shuttered Venue Operator Grant program. However, businesses should review the full list of requirements and consult with legal and financial advisors to ensure that they meet all eligibility criteria before applying for the program.

Final Take

Shuttered Venue Operator Grant program is a crucial lifeline for the entertainment industry struggling to survive during the pandemic. This grant provides much-needed financial assistance to venues, theaters, and other entertainment businesses that have been forced to shut down or limit their operations due to COVID-19.

With the recent expansion of the program and the additional funds allocated, now is the perfect time for eligible businesses to apply for this grant and get the support they need to stay afloat.

Don’t miss out on this opportunity to secure funding and keep your business alive. Apply for the Shuttered Venue Operator Grant today and take advantage of the support provided by the federal government.

Whether you are a small independent theater or a large concert venue, this grant program can help you get through these challenging times and emerge stronger on the other side. Act now and give your business the financial boost it needs to survive and thrive in the post-pandemic world.

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