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New SBA grant to assist Lake County entertainment venues

Eligible Lake County venue businesses affected by COVID-19 will soon be able to apply for funding through the U.S. Small Business Administration.

The Shuttered Venue Operators Grant aims to assist entertainment venues, including but not limited to live venues and theater operations. It was established through the Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act, and amended by the American Rescue Plan Act to provide more than $16 billion in economic relief to target industries. The application is expected to open April 8.

Businesses eligible for the grant must have been in operation as of Feb. 29, 2020, and include:

  • Live venue operators or promoters;
  • Theatrical producers;
  • Live performing arts organization operators;
  • Relevant museum operators, zoos and aquariums that meet specific criteria;
  • Motion picture theater operators;
  • Talent representatives; and
  • Each business entity owned by an eligible entity that also meets the eligibility requirements.

Eligible applicants may qualify for grants equal to 45 percent of their gross earned revenue, with the maximum amount available for a single grant award of $10 million. Lake County businesses are encouraged to begin gathering required documents and information ahead of the application opening date.

A national webinar also will be held to discuss questions relating to the grant program. The webinar will be presented by the SBA and take place Tuesday, March 30, from 2:30-4 p.m. Potential applicants may suggest topics via email to [email protected] by noon on Monday, March 29. Register for the webinar by visiting https://bit.ly/3lPln6C.

Entities may visit https://bit.ly/3vZw1MP to find additional information, including required documents, grant amounts and application instructions.

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