SBA Readies $16 Billion in Aid for Live-Event Businesses, $28 Billion for Hard-Hit Small Restaurants
- Staff Consortium
- April 20, 2021
As the Paycheck Protection Program comes to an end, the federal government is preparing two relief programs geared toward businesses among the hardest-hit by the Covid-19 pandemic. The Small Business Administration said it will start taking applications by week's end for a $16-billion grant fund for live-event businesses such as live music clubs and theaters. The program was supposed to kickoff roughly two weeks ago but got delayed after the system to apply failed. Called the Shuttered Venue Operators Grant, the program is expected to help thousands of businesses in the entertainment industry whose operations were devastated by the novel coronavirus. Another grant program, called the Restaurant Revitalization Fund (RFF), was detailed by SBA Administrator Isabella Casillas Guzman Monday, including application requirements, eligibility, and a program guide for the the RFF. The restaurant industry has been among the hardest-hit sectors during the economic downturn caused by the Covid-1...
