PORTSMOUTH, Va. (WAVY) — The Small Business Administration is now offering grants for venues that shuttered due to impacts from the COVID-19 pandemic.
The Shuttered Venue Operators Grant (SVOG) program was created under the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act last year, and then amended by President Joe Biden’s American Rescue Plan Act.
The program offers more than $16 billion in grants for closed venues.
Eligible applicants can apply for grants equal to 45% of their gross earned revenue. The maximum grant amount for a single award is $10 million.
$2 billion is reserved for eligible applications with up to 50 full-time employees.
The grants will be given by the SBA’s Office of Disaster Assistance.
For more information on eligibility, how to apply, program details and more, visit the SBA Shuttered Venue Operators Grant website.