WASHINGTON, D.C. – Today, U.S. Senator Jacky Rosen (D-NV), a member of the Senate Committee on Small Business and Entrepreneurship, released the following statement announcing that today, the U.S. Small Business Administration’s (SBA) online portal to provide emergency assistance to shuttered venue operators has re-opened.
“During the COVID-19 pandemic, Nevada’s venues were among the hardest hit businesses, and they continue to experience steep challenges. But thanks in part to the American Rescue Plan, help is on the way,” said Senator Rosen. “The SBA’s newly reopened grant application portal will allow venue operators additional support to ensure that Nevada’s live entertainment, theaters, and concert venues get the assistance they need to overcome this pandemic, and as we reopen, continue providing the world-renowned entertainment and culture that our state is known for.”
BACKGROUND: The Shuttered Venue Operators Grant (SVOG) program was established by the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act, and amended by the American Rescue Plan Act, which Senator Rosen supported. The program includes over $16 billion in grants to shuttered venues that are administered by SBA’s Office of Disaster Assistance.
Eligible applicants may qualify for 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 up to 50 full-time employees.