Wednesday, May 26, 2021

Los Angeles Music Scene: Funds Still Not Leaving Washington DC

Save Out Stages funding was supposed to go out the door last week, but it looks like we're having more delays -- which is a constant story for this funding. Variety (May 24) reports:

Considering the speed with which PPP loans were sent out, and restaurants recently received aid, the delay is confounding, although the SBA says those processes were different for a variety of reasons.

The article later mentions that those funds were sent out within days.

One venue operator says in a comment to Variety: “The SBA opened the Shuttered Venue Operators Grant applications one month ago today. They haven’t processed one application yet. And this morning, the SBA sent out emails to SVOG applicants, including me, saying, ‘Our records indicate you have started an application that has not been completed or submitted.’ My application has shown as ‘Submitted’ on the SBA’s web portal, with zero ‘Action Items’ since April 26th.”

Well, that's no good. On the other hand, I really have to suspect that lenders or renters will be lenient with venues. Why would you walk away from getting over a year of back payments? I think there just needs to be some patience. Of course, patience will run thin if this continues for a month or two. 

Now KCRW reported that many Los Angeles venues don't anticipate opening up until late summer or early fall. I suspect that might apply to the mid-size venues that are dependent on touring bands like The Troubadour or Zebulon. I've noticed that the Resident has an event scheduled for mid-June while Hotel CafĂ© is promising early July. 

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