• Frank Quintero

New SBA Shuttered Venue Grant

SBA will soon be posting the application and guidelines for the Shuttered Venue Grant.

Grants up to $10 million or 45% of the business's 2019 gross earned revenue (whichever is less) will be awarded. Funds can be used for a variety of expenses including payroll costs, rent, mortgage payments, utilities, taxes, and insurance.

First priority will be given to businesses that suffered 90% or greater revenue loss between April 2020 and December 2020. Succeeding priorities will be for those with 70% or greater losses, and then 25% or greater losses.

For details, including announcement of the first round of applications, go to: https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/shuttered-venue-operators-grant

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