The US Small Business Administration will launch two CRE-focused relief funds—one as soon as this week—to help live venues, museums, movie theaters, and restaurants regain their footing following a devastating 2020. 

After a few delays, the SBA will open its $16.2 billion Shuttered Venue Operators Grant (SVOG) application portal for operators of live venues, live performing arts organizations, museums and movie theatres, as well as live venue promoters, theatrical producers and talent representatives to apply for relief funds. At least $2 billion is reserved for eligible SVOG applications with up to 50 full-time employees, and applicants may qualify for grants equal to 45% of their gross earned revenue, up to a maximum amount of $10 million for a single grant.

The first 14 days of SVOG awards will prioritize entities that posted revenue losses of 90% or more from April to December 2020, while days 15-28 will include those that suffered a 70% or greater loss during that time period. Awards will then include entities that suffered a 25% or greater revenue loss between one quarter of 2019 and the corresponding quarter of 2020.