The Shuttered Venue Operators (SVO) Grant offers emergency assistance for eligible venues affected by the COVID pandemic and is funded by the SBA.
Qualifying businesses could be eligible for SVO Grants equal to 45% of their 2019 gross earned revenue, or $10 million, whichever is less. Qualifying businesses must have been in operation as of February 29, 2020 and the venue or promoter must not have received a PPP loan on or after December 27, 2020.
The Shuttered Venue Operator Grant website is the official repository of information on the program. The application period opens April 8th and completing the requirements can take some time. We recommend you take proactive action to prepare your application. SVOG applicants should consider the following:
Steps to Prepare:
1. Visit the SVOG Portal for all program details.
2. Visit the SVOG website for a quick self-check on eligibility.
3. Read the FAQ on the SVOG website which answers many eligibility questions and offers clarity on definitions. The FAQ page is updated weekly.
4. View Boulder SBDC’s Q&A Webinar on the SVOG here
1. Gather 2019 and 2020 Financials.
2. Calculate your number of employees based on the definitions in the FAQ.
3. Calculate your potential maximum grant award. Grant amounts will be either:
a. For an eligible entity in operation on January 1, 2019, grants will be for an amount equal to 45% of their 2019 gross earned revenue OR $10 million, whichever is less.
b. For an eligible entity that began operation after January 1, 2019, grants will be for the average monthly gross revenue for each full month you were in operation during 2019 multiplied by six (6) OR $10 million, whichever is less.
4. Calculate your potential maximum PPP amount.
a. See how to Calculate First Draw PPP Loan Amounts.
b. See How to Calculate Second Draw PPP Loan Amounts.
5. Calculate the percentage of revenue loss experienced in 2020 for a better understanding of which priority period you may fall under.
Our consultants are here to help you through the process. Appointments are free, remote, and confidential.
APPLY FOR THE PROGRAM
To apply, we are asking for a 1-2 minute video where you tell us a bit about your business (either new or existing business) and what you hope to gain from this program.
Any video file format is acceptable, but your video must be limited to 2 minutes maximum length. Please just let your creativity shine through . . . .we are looking for authenticity, sincerity, and a commitment to growth – not perfection!