As of Monday, the Small Business Administration has awarded 1,445 grants in more than 14,000 applications. A spokesperson for the Small Business Administration confirmed that the agency has set a goal to notify 70% of applicants of the award by July 4. The program launched by the agency provides grants of up to 10 million U.S. dollars. But it has been criticized for delaying the release of funds. After experiencing initial technical difficulties, the agency reopened applications on April 27. However, it did not start issuing award notices until May 26. Since then, rewards have been pouring in continuously. So, the Nederlander Organization and Jujamcyn Theaters would be beneficiaries of government funding.
On June 15, a group of senators, including the co-sponsors of the funding legislation, Sens. Chuck Schumer (D-NY), Amy Klobuchar (D-Minn.) and John Cornyn (R-Tex) wrote to the agency. They urged it to start allocating funds immediately and provide an update on their efforts. The grant funds can be used to cover expenses including costs and utilities, and are seen as a means to help restart the Broadway industry.
Eligible applicants include theater owners, producers, production and talent representatives. As well as entities outside the theater world, including independent music venues, museums, and zoos. In New York, to date, 195 organizations have received awards from the Shuttered Venue Operators Grant program. Nationwide, the grant has been distributed to 1,165 applicants in the first priority category. 90% or more loss of income. And 276 applicants in the second priority category and 4 applicants in the third priority category.
Recipients in the theater space thus far have included concert venue 54 Below, the Nederlander-owned Broadway in Chicago. Also, handful of production offices, including Tom Kirdahy Productions and Aged in Wood LLC. As previously reported, due to the insurance proceeds received during the pandemic. It is expected that most of Broadway’s works will fall into the second priority category-a loss of income of 70% or more.