Lendistry to Administer a New Round of Grants for California's Live Venues
Live event spaces in California can apply for the California Venues Grant Program, now with additional funding and expanded eligibility
LOS ANGELES, December 20, 2022 (Newswire.com) - Lendistry announced today that it will administer a new round of grants focused on supporting independent live venues in California that gain most of their revenue through ticket sales and event promotion. The California Venues Grant Program, which Lendistry administered in October and November of 2021, is returning for a new round, this time with expanded eligibility to support more venues that were affected by the pandemic. "Round 2" of the program launched on Dec. 19, 2022.
"Lendistry and the State of California have deployed the largest state-funded pandemic relief funding programs in the country, and help is still needed," says Lendistry CEO Everett K. Sands. "Independent venues are extremely valuable to their local communities as sources of jobs and income and as environments where people can gather. We're proud to continue supporting them as they recover."
This new round of the program is open to businesses that did not apply in the first round last year. Live venues are encouraged to review the eligibility guidelines, as the state has added movie theaters, drive-ins and more to the list of eligible event spaces. Previous applicants to the program have been reexamined under the new guidelines, and those who are now eligible have been contacted directly.
"California led the nation in small business COVID-19 relief, and we are proud of the relief funds that were distributed in round one of the California Venues Grant Program, which helped keep the lights on for over 800 live events venues," said Tara Lynn Gray, Director of CalOSBA. "These include theater and performing arts groups, dance companies, museums, and so many more small businesses in our communities that are part of the vital pulse of California's collective performing arts ecosystem. Round two of the grant funding seeks to further strengthen this sector's ability to overcome the challenges of the past few years."
As in the first round, grant amounts for this initiative will be the lesser of $250,000 or 20% of the applicant's gross earned revenue in California for the 2019 taxable year. Eligible independent live events venues must have a physical address and operate in California. Specific details about eligibility and the application process can be found at CAVenuesGrant.com.
Lendistry has deployed over $5 billion in state-funded relief and recovery grant funding to small businesses across the country. Using its proprietary fintech portal, Lendistry helps undercapitalized communities access a convenient, fully digital application process. The fintech also empowers local community organizations to help their constituents learn about the programs it administers and complete the applications in multiple languages. According to Lendistry, this combination of accessible technology and community-based assistance is the key to creating a more equitable environment for all.
B.S.D. Capital, Inc. dba Lendistry (lendistry.com) is a minority-led and technology-enabled small business and commercial real estate lender with Community Development Financial Institution (CDFI) and Community Development Entity (CDE) certification. Lendistry is a member of the Federal Home Loan Bank of San Francisco, headquartered in a Los Angeles Opportunity Zone. During the COVID-19 pandemic, Lendistry provided Paycheck Protection Program (PPP) loans to small businesses in all 50 states, becoming the #8 PPP lender in the country in 2021. Lendistry was selected by the states of California, Pennsylvania, and New York to administer their small business relief programs, which distributed grants to businesses that lost significant revenues during the pandemic. As a previous SBA Community Advantage lender in California, Lendistry was historically one of the top-ranked lenders in that program in the nation, providing responsible financing to small business owners who needed responsible capital to grow. Lendistry and its nonprofit partner organization, The Center by Lendistry, are dedicated to providing economic opportunities and progressive growth for underserved urban and rural small business borrowers and their communities. In 2022, Lendistry SBLC, LLC, a subsidiary of B.S.D. Capital, Inc., became the nation's only African American-led SBA designated Small Business Lending Company.