Program Questions
FAQ regarding program specifics
- I've been approved for a PPP loan but haven't yet received the funds. Should I include the PPP loan amount in the RRF application as if I had already received it?
- If you are able to provide both the 2019 and 2020 tax returns, do you still need to provide POS reports?
- How do I reduce my grant amount in order to comply with the $10 million cap on aggregate funds to the Applicant and its Affiliates?
- Once RRF funds are received, can I move the funds to an interest bearing account?
- We are a microbrewery with income from taproom, wholesale and outside events. Our overall gross receipts did not decline but the gross receipts from our taproom have declined. Can I use just the receipts from my taproom?
- What are my responsibilities after receiving funds?
- Can I use RRF funds to make business payments due to related parties?
- Which line on my tax returns do I use for gross receipts?
- Can I use RRF funds to reimburse myself for payments that I made with personal funds for business expenses while my business wasn't earning enough revenue to pay its bills?
- Can I use RRF funds to bring myself current on past due bills?
- I am a veteran and am still waiting for my DD-214. Is this required for eligibility in priority group processing?
- Do I need to put my spouse's name on the 4506-T for column 1a? My spouse is not an owner of my business, which I own as a sole proprietor. My tax return was filed as a joint return with my spouse.
- Do I need to provide the entire tax return or just the Schedule C or the signature page?
- What documents do I need to provide with my application when I apply?
- My business was closed for part of 2019 due to remodeling / flood / illness, etc. What are my options?
- What is meant by “What date did you begin making sales?”?
- What if my company isn't eligible for priority group processing?
- We have multiple restaurants. Can they all participate in this pilot program or do I have to choose just one?
- What if you applied for PPP funds but were denied funding?
- Will the SBA publicly disclose any information on recipients?
- What is a CPA Comfort Letter?
- My restaurant switched POS partners in 2019 or 2020 but both are participating, which vendor should I use?
- Is my nonprofit organization eligible?
- Is depreciation an eligible expense for Application Table 3?
- Is any form of owner compensation acceptable as long as it's under the $100,000 threshold?
- I own a nursing home with a restaurant in it and both use the same EIN. Am I eligible?
- I have multiple locations with separate EINs but one PPP loan that consolidates all EINs. How do I apply?
- How do I count ownership to achieve the 51% threshold for eligibility as a priority group?
- Can I use my Fiscal Year for calculating my RRF funding if different from the calendar year?
- Can the funds be used to pay back a PPP or EIDL loan as an eligible "business debt service " ?