Finally some stimulus we can all get behind. The airline industry got theirs, so why not independent venues? When you're playing with monopoly money, might as well throw some bones to the artist community amirite?
The Shuttered Venue Operators Grant program (formerly introduced as the "Save Our Stages Act" as promoted by the National Independent Venues Association) is Section 324 of the Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act (Economic Aid Act) signed into law on Dec. 27, 2020.
Eligible applicants may qualify for SVO Grants equal to 45% of their 2019 gross earned revenue. In order to be considered eligible you must be one of the following types of entities:
Live venue operators or promoters
Live performing arts organization operators
Relevant museum operators, zoos and aquariums who meet specific criteria
Motion picture theater operators
Some other important requirements for eligibility:
Must have been in operation as of February 29, 2020
Venue or promoter must not have applied for or received a PPP loan on or after December 27, 2020
The SBA is likely to introduce more specific eligibility requirements as well. Based on the FAQ they have published it appears that this grant is geared specifically towards concert venues and promoters, rather than bars and restaurants that also host live music. For this reason businesses that host performances as a secondary activity may want to look into PPP rather than attempting to receive this grant.
Applications are not yet available, but hopefully the Small Business Association works quickly on this. If you believe you might be eligible, some things you can be doing to prepare includes:
Register for a DUNS number
Register in the System for Award Management (SAM.gov)
Gather documents that demonstrate your number of employees and monthly revenues so you can calculate the average number of qualifying employees you had over the prior 12 months.
Determine the extent of gross earned revenue loss you experienced between 2019 and 2020. This and additional information such as floor plans, contract copies and other evidence will be needed to apply for an SVOG.