A $10 Billion Small Business Administration grant was introduced as an effort Independent Music Venues. Part of Save Our Stages Act, the Bill hopes to provide relief to Small Music Venues facing difficult times during the Coronavirus Pandemic.
Coronavirus has presented numerous challenges to Live Music Venues. Yesterday, Senators John Cornyn and Amy Klobuchar hoped to allieve some of the financial positions small venues currently find themselves in.
The bill is called Save our Stages and introduces a grant program in the amount of $10 Billion. The grants would be distributed to live music venue operators affected by Stay at Home orders. It would provide six months of financial support to keep venues going, pay employees and seek to preserve an economic sector that has been close to shutting down.
Earlier this month, The Austin Monitor predicted that 90 percent of their live music venues will close by Halloween. Here in Chicago, it has been a struggle prior to the pandemic with large music corporations such as Live Nation making it more difficult for our smaller venues to exist.
Save the Stages would set in place strict definitions for Independent live venue operators, promoters and talent representation. The Bill strives to prevent large international corporations from receiving federal aid. The grants made to eligible venues will be equal to the lesser of either 45% of operation costs from the 2019 calendar year or $12 Million.
This could be a helping hand to many of our local venues and help them develop further into a transition that will provide safety and entertainment for future generations.
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