NEW ORLEANS — The City of New Orleans is urging owners of small businesses that have been adversely impacted by the COVID-19 pandemic to consider applying for the Small Business Administration’s (SBA) planned Shuttered Venue Operators Grant (SVO).
While the application process has not yet begun, the SBA recently released guidelines on who may qualify for the grants.
Per the SBA, the Shuttered Venue Operators Grant program was established by the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act, signed into law on Dec. 27, 2020.
The program includes $15 billion in grants to shuttered venues, to be administered by the SBA’s Office of Disaster Assistance.
Eligible applicants may qualify for SVO Grants equal to 45 percent 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