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

[Ani_]

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_]

Hi @Seanse07 If you have multiple locations within a single Square account, you’ll be able to apply for a grant using multiple location’s revenue and processing data.

[Tirianous]

I saw the Live Update this morning and I was wondering if restaurants that don't have 3 months of Bank statements and do not have a 2019/2020 tax return (newer restaurants) apply for the RRF?

[NmontaSBA]

Hello @Tirianous,

3 months of bank statements are required as a fraud prevention measure to validate business bank accounts.

If you were not yet open in 2019, you will not need to provide a 2019 tax return.

[hscva]

Participating on the SBA Live Q&A now and Square is listed as a verified partner with whom we can apply. I am a little nervous about Square's capacity to manage all these applications and would hate to miss out on an opportunity to apply through the SBA. Is Square ready to go by 12pm Eastern on Monday, May 3 when the SBA application launches? 

[Ani_]

Yes, we'll be ready! 🚀 @hscva 

[hasany]

If I do not want to use the Square Portal. How do I get a Verified POS Report from Square for my account?

[PagodaCafe]

Has Square responded to this, as I have the same question?

[Ani_]

@hasany @PagodaCafe SBA does encourage applicants who can apply through Square to do so! This is an amazing partnership we have worked together on to make sure you as an Applicant have all the data and documentation you need, in a platform you are already comfortable with. 

However, you are able to access POS reports, including your 1099k, from your Square dashboard. To access your 1099k, navigate to Account & Settings, Business, and Tax Forms. You are also able to download sales summary reports from your Dashboard, under Reports.

[valerieGB]

How do I register for the training?

[NmontaSBA]

Hi @valerieGB,

SBA held two training sessions this week to provide information on the program and a walk through of the SBA application portal. You can access recordings of the application portal training at sba.gov/restaurants.

[stanburn]

We are a winery/tasting room and have used Square for years. Will Square know that we are eligible for this fund? We would prefer to apply through Square, but will this automatically be an option for us or do we have to request this?

[Ani_]

Hi @stanburn, Wineries will be required to prove that 33% of their onsite sales and will require additional documentation to apply. We recommend that you apply through the SBA Portal.

[Marywardian0125]

Is there a dial-in or livestream link that we can join for the Live Q&A session on Thursday?

[Ani_]

Hi @Marywardian0125, sorry for the confusion! There is no dial-in or livestream link. The SBA will be posting responses to any questions directly on this thread.

[christytaylor]

How do we get a verified POS report from Square?

[NmontaSBA]

Hi @christytaylor,

SBA does encourage applicants who can apply through Square to do so! This is an amazing partnership we have worked together on to make sure you as an Applicant have all the data and documentation you need, in a platform you are already comfortable with.

[Ani_]

Hey @christytaylor You are able to access POS reports, including your 1099k, from your Square dashboard. To access your 1099k, navigate to Account & Settings, Business, and Tax Forms.

[1369Coffeehouse]

How, exactly, does the SBA define "Social Disadvantage". Do business owned by LGBTQ and/or trans individuals count as socially disadvantaged?

[kimapollo]

I watched a webinar and this question was asked. The person running the thing wasn't sure but thought probably as LGBTQ+ is a protected group. 

Info here. https://smallgovcon.com/sbaohadecisions/8a-social-disadvantage-narratives-what-sba-is-looking-for/#:...

[NmontaSBA]

Hello @1369Coffeehouse,

Socially disadvantaged individuals are those who have been subjected to racial or ethnic prejudice or cultural bias because of their identity as a member of a group without regard to their individual qualities. Individuals who are members of the following groups are presumed to be socially disadvantaged: Black Americans; Hispanic Americans; Native Americans (including Alaska Natives and Native Hawaiians); Asian Pacific Americans; or Subcontinent Asian Americans.

Small business concerns owned by LGBTQ and/or trans individuals do count as socially disadvantaged, but must also be able to certify to economic disadvantage (below).

Economically disadvantaged individuals are those socially disadvantaged individuals whose ability to compete in the free enterprise system has been impaired due to diminished capital and credit opportunities as compared to others in the same business area who are not socially disadvantaged.

[ThirdPlaceJen]

Can you explain how the Certified POS report works for the RRF application as supported documentation and how being a Square user facilitates that documentation?