The SBA welcomes all POS vendors and financial advisors to assist their customers in applying for RRF funds.
The most essential assistance a POS vendor or advisor can provide is in the preparation of supporting documentation including but not limited to
- Bank statements
- Externally or internally prepared financial statements such as Income Statements or Profit and Loss Statements
- Point of sale report(s), including IRS Form 1099-K
Proactively providing this information to your restaurant owners will greatly expedite their ability to apply.
Webinars and industry trade sessions on the application process are also welcome.
A sample POS statement is attached to this article. This sample provides a clean and simple way to report comparative POS sales.
If a POS vendor desires to provide enhanced services to their client base they may become an approved POS vendor. And approved POS vendor will enter into an agreement with the SBA to:
- Engagement within the SBA Restaurant Revitalization fund requires that no fee or
ancillary charge be assessed to the applicant.
- In conjunction with the promotion of the SBA program, Ecosystem Partner will facilitate the provision of 2020 and 2019 sales data for use in the application.
- POS vendors will need to provide sample data reports for review by the SBA.
POS vendors, once approved, will submit applications to the SBA via API. The POS vendor will become the primary and sole source for their customers to submit an application. The POS vendor using the API should be prepared to perform:
- Payment account verification for funds. Accounts must be verified by the POS vendor.
- KYC and fraud validation for all applications processed via the POS vendors web portal.
- Provide a custom portal application for it's customers to apply that automatically generates and uploads the POS reports and reporting.
- Provide technical support and call center support for their customers submitting applications. Applicants applying through a POS vendor will use the POS vendor as their primary support for application errors and status updates.
If a POS vendor wishes to engage the SBA to become a qualified partner please contact firstname.lastname@example.org
API Documentation location: https://ussbarestaurants.github.io/