January 7, 2021
At the close of the year, U.S. Congress passed $900 billion in Covid economic relief, which includes targeted support for the arts sector.
Further guidelines and applications will be posted soon and we will be working with our advocacy partners to keep you updated. Below we have highlighted new and expanded relief funding available to artists and arts organizations.
- NEW! Save Our Stages: $15 billion has been allocated to support live entertainment venues, agents and cultural institutions. Eligible grantees include an individual or entity that “as a principal business activity, organizes, promotes, produces, manages, or hosts live concerts, comedy shows, theatrical productions, or other events by performing artists” who have seen more than a 25% decline in revenue. This funding cannot be combined with second round PPP grants.
- EXPANDED! Paycheck Protection Program (PPP): The new bill includes an additional $280 billion for PPP forgivable loans. These loans are accessible to first-time applicants as well as those applying for a second round of grants. This new round of PPP follows the same 60 percent payroll to 40 percent non-payroll cost ratio. Eligible non-payroll costs include rent, interest, and utilities; software and cloud servers; property damage costs related to vandalism; and worker protection costs associated with CDC compliance.
Priority for new loans will be given to first-time applicants, minority businesses, recipients with 10 or fewer employees, and businesses located in low and moderate income neighborhoods. For those applying for a second grant, organizations must have used, or will use, the full amount of their first PPP (but do not need to have certified forgiveness of their first loan). The process has been amended to make grant applications and forgiveness certification faster and easier. The deadline to apply is March 31.