The Hangar, based in Pearson Street in Wolverhampton, received a total of £323,000 as part of the Government’s £1.57 billion Culture Recovery Fund.
It means the venue – which lost around £1.4 million in revenue as a result of the virus – will be able to continue in the city thanks to the cash boost.
Sam Evans, who owns The Hangar Events Venue, said: “It’s kept us open, it’s saved us – it’s a huge amount. Obviously we had more than 150 events booked in this year which came to a complete halt.
“We have a very understanding landlord and lots of our partners have helped us and this was the cherry on the cake really.
“It means next summer – if things go back to normal – we will be good to go, and it’s good to know funding is going into the city.”
Events booked in for the venue included sport shows and Bongo’s Bingo – with plans to introduce live concerts at the end of the year.
But the venue, which is taking bookings for next year, was forced to lose out on the income due to the impact of Covid-19.
The 32-year-old submitted the funding bid to the Government’s cash pot with Mayor of Wolverhampton Councillor Claire Darke adding a reference.
“She gave us a great reference which showed the importance of the venue and keeping it in the city,” Sam, from Codsall, added.
Funding from the Culture Recovery Fund will allow The Hangar Events Venue to continue with smaller capacity events and carry out educational projects.
Culture Secretary Oliver Dowden said: “This is more vital funding to protect cultural gems across the country, save jobs and prepare the arts to bounce back. Through Arts Council England we are delivering the biggest ever investment in the arts in record time.
“Hundreds of millions of pounds are already making their way to thousands of organisations.
“These awards build on our commitment to be here for culture in every part of the country.”