Some places were able to get PPP loans at the beginning of the pandemic, but for most of these venues, that money was gone in a month of two. Venues have been shut down for almost a year now. People are going into huge amounts of debt, many of these folks are afraid they will never be able to financially recover from this, let alone keep their venues open. We have got to do something, and we ve got to do it now, said San Francisco Small Business Commission President Sharky Laguna.
Although Congress recently passed a $900 billion COVID-19 relief package, which included $15 billion set aside for theaters and entertainment venues, Haney said the funds are likely insufficient to prevent permanent closures.
San Francisco supervisor proposes recovery fund for hard-hit entertainment industry
By Daniel Montes article
SAN FRANCISCO - San Francisco Supervisor Matt Haney introduced legislation Tuesday that would create a fund to help the city s struggling music and entertainment venues, which have had their doors closed since March.
According to Haney, the San Francisco Music and Entertainment Venue Recovery Fund is desperately needed as many of the businesses are facing permanent closure as the COVID-19 pandemic continues. What this pandemic has done to our economy and our way of life has been nothing short of a nightmare, and for our city s venues, there has been no reprieve. They were the first to close and will likely be the among the last to reopen, Haney said in statement.