Solved: Live Q&A: Restaurant Revitalization Fund for Squar... - Page 29

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 Best Answer >

Ani_ · ‎05-02-2021

Hi @patika, You will be able to download a report from your Square account that you can use in your SBA application. We’ve provided information how to do so in our support page.

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

Alexkim714 · ‎04-29-2021

omg guys 😭 I see SBA answer but It doesn't go directly under the question. It @tags the person who asked but then

I would have to scroll through the 250+ questions to look for that person to read the original question asked. Could someone explain or show mw how to navigate this better please....

OntheBeach · ‎04-29-2021

I'm feeling your frustration. This is a strange format. I'm loosing confidence for the Square portal apllication.

CB2020 · ‎04-29-2021

Wondering the same thing. If the application process goes like this Q/A we are in for a roughly time.

kimapollo · ‎04-29-2021

I have many questions but didn't post them because they were already asked. Now I have to go read the whole thread? Typical square.

Tom · ‎04-29-2021

Hey @Alexkim714, @OntheBeach, @CB2020, and @kimapollo — I'm really sorry for the frustration today. We received a higher number of questions than expected for this format. Rest assured that we will address all concerns and summarize the themes/important action items in a wrapup post as soon as possible. The wrapup post will be marked as a "Best Answer" which will pin it to the first page of this thread, making it easier to refer to.

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

xgolftc · ‎04-29-2021

Hey everyone --- It looks like they are emailing the account we are logging in with to provide answers for the live Q&A. I have over 200 emails in my inbox right now.

Franz · ‎04-29-2021

The SBA has been offering online Zoom Seminars, just FYI. I attended one yesterday & it was a much better way to do this. You can call the SBA re: RRF at (844) 279-8898. I already called them twice today, not a long wait. Much better use of my time.

CB2020 · ‎04-29-2021

Yes, and unfortunately some of the answers given here are not at all in line with the information from those seminars.

CoffeeCo2005 · ‎04-29-2021

How do we and when can we download official reports for 2019 and 2020

Do we have to apply through square? Or can we download the reports any use them to apply via the sba portal

Ani_ · ‎05-02-2021

You do not have to apply through Square @CoffeeCo2005 . You can choose to apply via the SBA and use data from your Square account in your application. That said to the extent we have enough information in your account to help you apply, we will have a pre-filled application available for you to use that could save you time and effort during the application process.

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

nah0408 · ‎04-29-2021

What documentation will be required?

Ani_ · ‎05-02-2021

Hey @nah0408, Please review sba.gov/restaurants for more information on required documentation.

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

TCQ · ‎04-29-2021

Which Square reports will be acceptable as documentation for gross receipts?

mountainjavaman · ‎04-29-2021

1. The name of my company in Square is the DBA but not the legal name. Will there be a place for both the legal name and the DBA on the application in Square as there is on the SBA application? Will I be able to fill in the legal name or will Square automatically fill that in?

2. Square has my husband listed as the owner but I am the owner. Since women are in the priority group, should I talk with Square to get that corrected or will I be able to fill it in correctly on the application so it is consistent with the LLC filing?

alohamai · ‎04-29-2021

Where can we watch the live?

kimapollo · ‎04-29-2021

No live.

TOehlerking · ‎04-29-2021

What figure is SBA/Square using for Gross Receipts? The 1099-K the SBA asks for as documentation of income includes returns, taxes, tips & does not include cash sales.

Will Square use the Net Sales figure from the Sales Summary as Gross Receipts?

Ani_ · ‎05-02-2021

@TOehlerking Square is using the gross receipts number.

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

Dhaba · ‎04-29-2021

Where do I register to apply for RRF grant?

F_Choe · ‎04-29-2021

I would love to be part of your beta testing program if it becomes available for RRF.

Please add my company to your list.

Thank you.

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?

Events