Solved: Live Q&A: Restaurant Revitalization Fund for Squar... - Page 20

Ani_ · ‎04-22-2021

Hi Seller Community!

I'm excited to announce the Small Business Administration has developed a partnership with Square to distribute the Restaurants Revitalization Fund (RRF) relief to the food and drink industry. The Restaurants Revitalization Fund (RRF) is part of the U.S. Government’s American Rescue Plan Act of 2021. This plan includes a $28.6B fund for awards to eligible food and beverage business owners, administered by the Small Business Administration (SBA).

On Thursday, April 29th at 1:30-2:30 PM PST /4:30 PM-5:30 EST, we'll host a Live Q&A with the Small Business Administration (SBA) to answer any of your questions about the application process. Please make sure to ask any questions directly on this thread below. Keep in mind, the SBA will only be addressing questions related to the Restaurant Revitalization Fund (RRF), not PPP.

How does the application process work?

We expect to start enabling applications for the Restaurants Revitalization Fund (RRF) on Monday, May 3rd at 12:00 PM EST. The award application program is owned by the SBA, and they are finalizing the process. We know how important these funds are to you and your business, so we are working as quickly as possible to get the application ready!

Unlike the PPP program, the Restaurant Revitalization Fund are awards and are not loans. They are not serviced as loans, and have no forgiveness component. There are no intermediary banks involved. Awards are determined by and allocated by the Small Business Administration (SBA) and not Square.

If you qualify for a Restaurant Revitalization Fund grant, you’ll have the option to apply Monday, May 3rd on Square Dashboard or through the SBA’s secure website. To help support applicants throughout the process, the SBA will offer phone and district office support.

Call center hotline (844-279-8898): Applicants can call this number for multi-lingual application or program support.
SBA District Offices: Applicants can reach out to their local District Office for tailored regional SBA support.

For more information about eligibility or to start your application, please visit the SBA Portal. You can also find more information about the Restaurant Revitalization Fund on the Support Center. Let us know if you have any questions for the SBA below!

Note: The SBA has announced that they will officially stop accepting applications for the Restaurant Revitalization Fund (RRF) on Monday, May 24, at 8 p.m. ET.

Ani
Gestora de la Comunidad de Vendedores / Seller Community Manager, Square

Ani_ · ‎04-30-2021

On Thursday 5/29, we hosted a Q&A with the US Small Business Administration about the Restaurant Revitalization Fund.

In the Q&A, the SBA and Square answered questions about the application process — from general eligibility requirements to more specific information that applied to individual sellers.

Here’s some important information that applies to most sellers:

When can you apply:
- Applications start on Monday 5/3 at 12:00 p.m EST / 9:00 a.m. PST.
- The SBA has a registration window open on Friday 4/30, but if you plan to apply through Square you do not need to register with the SBA.

Who can apply through Square:
- To determine if you are an eligible business type, you’ll need to visit SBA’s website (sba.gov/restaurants).
- If you processed with Square in 2019 and 2020 (Table 1 or 2 in the RRF application), you can apply through Square’s dashboard or the SBA. If you used multiple POS providers during that period or had supplemental income e.g. from online ordering apps, you can still apply with Square. You’ll be able to add supplementary income information — but the SBA may require you to provide additional documentation before you e-sign your application.
- If you began processing with Square in 2020 or 2021 (Table 3 in the RRF application), then you will need to apply through the SBA. You can get useful information from your Square account to include in your application — to learn how, please take a look at our Support Center.

Why you should or should not apply with Square:
- If you apply through Square can save time completing and submitting your application with pre filled data from your Square account.
- Submitting through Square can help you get your application in front of the SBA quickly — before the RRF funds run out.
- Square will enable you to add supplemental revenue information in your application for either Table 1 or Table 2 applicant. However, if you are a Table 3 applicant, you will need to apply via SBA because Square will not let you upload supporting documentation for eligible expenses.

How can you apply with Square:
- If you are eligible to apply through Square, you’ll need to log in to your dashboard when the application window opens, using the owner’s login. From there, you’ll find a specific RRF module from where you can start your application.
- Square will have pre-filled your application with the information we know about your business. That said, there is information we do not have access to. To complete your application as fast as possible we recommend to have the following information handy:
  - The date (day, month, and year) you began operations.
  - How many months you operate in every location. This is especially important if you operate a seasonal business.
  - Any additional income you may have earned in 2019 and 2020 that was not processed through Square. Ideally you are tracking this income by location. If this information is not available feel free to distribute this across locations ensuring the total revenue by location (through Square and other sources)stays under $5M.
  - Your PPP loan information — especially if you did not process these loans with Square.
- After submitting your award application through your Square Dashboard, you’ll need to eSign your application. Here’s how it works:
  - Open an email from Square with the title “Your RRF award application is not yet complete.” Follow the link in the email to visit the SBA portal.
  - If you see a page with the title “Third Party Signup,” you are in the right spot. Enter the text you see in the grey pixelated image in the appropriate field and click Complete Sign Up.
  - You’ll then receive an email from SBA with the title “SBA Restaurant Revitalization Fund - Password Reset E-mail.” Click the link included in the email to reset your password.
  - Once you complete your password reset, scroll to the bottom of the page and click Sign and Submit Application to sign your application via DocuSign.
  - The SBA may also require additional documentation for your application if you indicated revenue outside of Square. From the SBA portal, you will be able to upload supporting documentation to the Additional Info Needed section if required by the SBA.

How can you get help if you have more questions?
- We will try to answer as many additional questions as possible here through the weekend.
- Call the SBA call center hotline (844-279-8898): Applicants can call this number for multilingual application or program support.

Reach out to your SBA District Office: Applicants can reach out to their local District Office for tailored regional SBA support.

Ani
Gestora de la Comunidad de Vendedores / Seller Community Manager, Square

View Solution >

Bruce57 · ‎04-29-2021

What if the Gross Sales in Square differ from Gross Sales on our tax returns? Will this hold up my application?

corvonyc · ‎04-29-2021

same question

Bruce57 · ‎04-29-2021

What if Gross Revenues in Square are different than Gross Revenue on our tax return. Will this hold up the application?

KatieT80 · ‎04-29-2021

How can clients account for sale receipts from transactions made outside of Square's POS system (e.g., cash) when applying through Square?

Ani_ · ‎05-02-2021

Hi @KatieT80, There is a field to indicate revenue collected outside of Square.

Ani
Gestora de la Comunidad de Vendedores / Seller Community Manager, Square

Alison1 · ‎04-29-2021

Hi,

we are a ferry company - can I include the charter/harbor cruise fee for the boat as gross receipts?

NmontaSBA · ‎05-02-2021

Hi @Alison1, Ferry companies are not eligible for RRF.

Nicola
SBA Guest Speaker
sba.gov/restaurants

WineSneak · ‎04-29-2021

On a SBA webinar we were advised to register with SBA on Friday to be able to apply on Monday. Do we still have to register with SBA if we are using Square to apply?

Ani_ · ‎05-02-2021

Hey @WineSneak - No, if you plan to apply through Square, you do not need to register via the SBA.

Ani
Gestora de la Comunidad de Vendedores / Seller Community Manager, Square

BenLun · ‎04-29-2021

Using Calculation of funding amount using Table 3, I subtracted line 4 from line 1 and came up with a negative number. Does this mean that I am not eligible for funding?

NmontaSBA · ‎05-02-2021

Hi @BenLun, If your 2020 gross receipts plus your PPP loans are greater than your 2019 gross receipts you will not be eligible for funding.

Nicola
SBA Guest Speaker
sba.gov/restaurants

Knockboy · ‎04-29-2021

since RRF qualification is directly depreciated by PPP, it seems the dollars are fungible, therefore will remaining PPP dollars be treated the same as RRF dollars in terms of uses and the timeline to use them, 24 weeks vs until march 2023 instead?

NmontaSBA · ‎05-02-2021

Hi @Knockboy, RRF is a different program than PPP. PPP dollars will not be treated the same as RRF dollars.

Nicola
SBA Guest Speaker
sba.gov/restaurants

trollystopHD · ‎04-29-2021

I use another POS service in addition to Square. When I apply for RRF through the Square Dashboard, will there be a space for me to aggregate my Square sales and my other POS reports to show my complete 2020 sales?

Ani_ · ‎05-02-2021

Hi @trollystopHD, If you are either a table 1 or table 2 applicant, and have processed with Square in 2019 and 2020, then Square will be able to support your application, and provide fields for you to add outside revenue.

Ani
Gestora de la Comunidad de Vendedores / Seller Community Manager, Square

lsakai · ‎04-29-2021

Is there a link for the RRF Q&A today (April 29)? How do we join in?

ashc · ‎04-29-2021

Hi @Isakai,

I moved your post to the existing thread for it that's pinned to our homepage and shown in the banner on the homepage at the top.

Ashley C
Community Moderator, Square
Sign in and click Mark as Best Answer if my reply answers your question.

Tom · ‎04-29-2021

Hello @lsakai, thanks for checking in! Answers to questions will start posting today at 1:30-2:30pm PT / 4:30-5:30pm ET — the conversation will take place in written form here in this thread. Keep watch on this thread for updates and please do add any questions you have.

️ Tom | he/him
Square Community Program Manager | Square, Inc.
Find step-by-step help in our Support Center

crafter1 · ‎05-25-2021

22 days is a very long time to sweat this thing out! I'm hopeful there is some money left for the rest of us......

LL51 · ‎04-29-2021

We were a beer wholesaler since 2013. We pivoted to a brewery with tasting room in February of 2020. The brew pub was open for only 3 weeks prior to the shut down. Can we apply for RRF funds as a brew pub that began operations after Jan 1, 2020, or will our past gross receipts require us to apply as a business operating prior to 2019.

NmontaSBA · ‎05-02-2021

Hi @LL51, If the brewery with a tasting room operates under the same TIN as the beer wholesaler, you are required to apply as a business operating prior to 2019.

Nicola
SBA Guest Speaker
sba.gov/restaurants

Live Q&A: Restaurant Revitalization Fund for Square Food and Beverage Sellers

When can you apply:

Who can apply through Square:

Why you should or should not apply with Square:

How can you apply with Square:

How can you get help if you have more questions?