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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.
Gestora de la Comunidad de Vendedores / Seller Community Manager, Square
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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:
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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.
- Applications start on Monday 5/3 at 12:00 p.m EST / 9:00 a.m. PST.
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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.
- To determine if you are an eligible business type, you’ll need to visit SBA’s website (sba.gov/restaurants).
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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.
- If you apply through Square can save time completing and submitting your application with pre filled data from your Square account.
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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.
- 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.
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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.
- We will try to answer as many additional questions as possible here through the weekend.
Reach out to your SBA District Office: Applicants can reach out to their local District Office for tailored regional SBA support.
Gestora de la Comunidad de Vendedores / Seller Community Manager, Square
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Can someone please give me the url for the live Q&A?
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i can find it either
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SBA begin to create user ID and password for RRF application tomorrow 9:00am.
If I want to apply through the Square dashboard, do I need to create ID and password somewhere?
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No you do not need to, @mimiandsimoninc.
Gestora de la Comunidad de Vendedores / Seller Community Manager, Square
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Which report do I need for RRF and where can I download?
We use multiple POS companies and Square is one of them. Can I apply through Square for other POS reports or do I have to apply separately on SBA website for other reports?
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If I register on the SBA portal on Friday the 30th as a backup in case there are issues with the Square application, will this affect my ability to still apply through Square on Monday?
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I would like to know the answer to this question as well. As I'm not seeing anything on my dashboard regarding the RRF (other than this feed), I'm a bit concerned that Square will know I'm an eligible restaurant.
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I too would like to know how Square will know that we qualify. What type of business we are.
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@PPastry Square is determining eligibility based on whether you are a food and beverage business, have fewer than 20 locations, and whether we are able to support your application (began processing with Square before 2020). For further information about eligibility, please see sba.gov/restaurants.
Gestora de la Comunidad de Vendedores / Seller Community Manager, Square
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Hi @LakeBaked, Square is determining eligibility based on whether you are a food and beverage business, have fewer than 20 locations, and whether we are able to support your application (began processing with Square before 2020). For further information about eligibility, please see sba.gov/restaurants.
Gestora de la Comunidad de Vendedores / Seller Community Manager, Square
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No it won’t @ThesisBeer. Square will provide you a unique login for the SBA so make sure to use the one we provide you with when accessing the SBA portal after you submit and e-sign your application.
Gestora de la Comunidad de Vendedores / Seller Community Manager, Square
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If I have two different Square logins for my two locations, yet one company EIN, will Square recognize both logins by my EIN and combine the application revenue data?
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@adamMi if the two Square locations are not within the Square same account, then unfortunately you will not be able to apply through Square and we recommend you apply through the SBA.
Gestora de la Comunidad de Vendedores / Seller Community Manager, Square
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DO 2020 business taxes need to be filed?
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I just checked and noticed my Square 1099-K document shows a different revenue number (much lower number) than my Square POS report for the year (2019), a material difference. And my tax return shows the same number as my Square POS report. If Square is going to validate our numbers, which one should we be using? What if the 1099-K is lower than actual?
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I believe that the Square 1099-K reports reflect only the cc sales that go through Square. There is an explanation at the Square 1099-K tab
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Hi @fogro @ThirdPlaceJen is correct, please reach out to our Support team if you have any questions about your 1099-k. or POS report Square will be using gross sales numbers.
Gestora de la Comunidad de Vendedores / Seller Community Manager, Square
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if I purchased a restaurant 11/2019 and do not have any copies of 2019 Income Taxes but do have access to bank statements and Square 2019 data. Can I use Gross Sales from square 2019 Sales Data?
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Hi @john36910,
If you do not have the financial records from the previous owner (including payroll records), you may apply using Application Table 3.
If you have the financial records from the previous owner (including payroll records) you should apply using the appropriate Table that corresponds to the length of time the business has been open.
Regardless of which Table you use in the application, you must include all Paycheck Protection Program loans received by the business in 2020 and/or 2021, regardless of ownership, in line 3 on Table 1, 2, or 3 of your funding calculation.
SBA Guest Speaker
sba.gov/restaurants
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i'm thinking it might be smart to go ahead and register with the SBA tomorrow (even though i'm planning to apply thru square), in case we run into significant problems in square on monday...is there any reason i can't do this?
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Hey @prestonrosefarm, Technically it’s fine to register today and then apply with Square! It’s not necessary, but you can.
Gestora de la Comunidad de Vendedores / Seller Community Manager, Square
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