The COVID-19 pandemic has caused widespread economic disruption, and independent contractors and sole proprietors have been among the hardest hit. If you are an independent contractor or a sole proprietor, you may be wondering if there is financial assistance available to help you weather this crisis.
The good news is that there is: the Shuttered Venue Operators Grant program, established under the American Rescue Plan Act of 2021, provides financial assistance for independent contractors and sole proprietors in the arts and entertainment industry who have been impacted by the COVID-19 pandemic.
The amount of financial assistance available through the Shuttered Venue Operators Grant program depends on several factors, including the number of employees you have, your gross earned revenue, and the number of expenses you incurred during the pandemic.
Independent contractors and sole proprietors can receive grants of up to $10 million, while businesses with up to 500 employees can receive grants of up to $15 million.
Available SBA Grant Program for Independent Contractors
The Shuttered Venue Operators Grant Program
The Shuttered Venue Operators Grant program provides financial assistance to independent contractors and sole proprietors in the arts and entertainment industry who have been impacted by the COVID-19 pandemic. The grants can be used to cover a wide range of expenses, including payroll, rent, utilities, and personal protective equipment.
The program is designed to help independent contractors and sole proprietors who have been unable to work due to the pandemic, or who have experienced a significant decrease in revenue.
Requirements (Eligibility)
To be eligible for the Shuttered Venue Operators Grant program, you must be an independent contractor or a sole proprietor who works in the arts and entertainment industry. This includes individuals who work as musicians, actors, directors, writers, producers, and other professionals in the arts and entertainment industry.
Additionally, you must have been in operation as of February 29, 2020, and must have experienced a significant decrease in revenue due to the pandemic.
How to Apply
To apply for the Shuttered Venue Operators Grant program, you will need to complete an application through the Small Business Administration (SBA).
You will need to provide information about your business, including your gross earned revenue, expenses, and the number of employees you have. You will also need to provide documentation to support your application, such as financial statements and tax returns.
Once your application has been reviewed and approved, you will receive your grant funds in the form of a direct payment. The funds can be used to cover a wide range of expenses, including payroll, rent, utilities, and personal protective equipment.
Please note that in addition to the Shuttered Venue Operators Grant program, there are other financial assistance programs available to independent contractors and sole proprietors who have been impacted by the COVID-19 pandemic.
For example, the Paycheck Protection Program provides low-interest loans to small businesses to help cover payroll and other expenses during the pandemic. Additionally, the Economic Injury Disaster Loan program provides low-interest loans to small businesses to help cover operating expenses during the pandemic.
In conclusion,
If you are an independent contractor or a sole proprietor in the arts and entertainment industry who has been impacted by the COVID-19 pandemic, it is important to explore all the financial assistance options available to you.
This includes the Shuttered Venue Operators Grant program, as well as other programs such as the Paycheck Protection Program and the Economic Injury Disaster Loan program. With the right financial support, you can get back on your feet and continue to grow your business.