Oceanside Restaurant Revitalization Funds (RRF) in Oceanside, California

Oceanside, California Restaurant Revitalization Funds SBA RFF

Any Oceanside business concerned with operating as a franchise and meeting all other program requirements is eligible. The franchise must be listed on the SBA Franchise Directory. In the application portal, Applicants will be able to look up their entity on the SBA Franchise Directory.

For brands not listed on the Oceanside Directory (including brands that have previously been denied listing on the Directory because of affiliation issues), the franchisor must submit the Franchise Disclosure Document (or other agreement) and all other documents a franchisee is required to sign to [email protected] for review of SBA’s other eligibility criteria (e.g., 13 CFR § 120.110).

Table of Contents

What Applicants can Apply for the Oceanside Restaurant Revitalization Fund in California?

Applicants in Oceanside that are operating under an approved plan of reorganization, under either a Chapter 11, Chapter 12, or Chapter 13 bankruptcy and meet all program requirements are eligible for funding.

An Applicant in Oceanside is not eligible if it has:

• Permanently closed
• Filed a Chapter 7 liquidation bankruptcy
• Filed for either a Chapter 7 or Chapter 11, 12, and 13 bankruptcy but is not under an approved plan of reorganization.

Permanently closed does not include businesses that temporarily closed their doors due to state or local restrictions or other pandemic causes but are still in operation or have reopened.

Are Oceanside, CA Restaurant Locations Eligible for the RRF?

You must count all California locations owned or operated under your Applicant business’s EIN and your Applicant business’s affiliates, even those that are not eligible for RRF.

Counting Locations:

• Any Oceanside entity with its affiliates owns or operates more than 20 locations, regardless of whether the businesses operate under different names or are different types of business, is not eligible for RRF.
• For example, if your business and its affiliates own 16 dry cleaners and 5 restaurants, your business has 21 locations, which means your business is not eligible for RRF.
• Each place where the Applicant or affiliates conduct sales from a permanent structure is counted as a location. If the Applicant or affiliates conduct sales from multiple permanent locations, each address is a separate location. For a caterer or a single business with multiple food stands, trucks, or carts, the physical location is where the business is headquartered (i.e., a business with one permanent structure and five food trucks will have one location; a caterer will have one location).

Corporate Groups:

• Locations owned or operated by a single corporate group will count toward the 20 location maximum limit for eligibility and the $10 million aggregate limit on RRF funding.
• Businesses that are part of a single corporate group that in the aggregate own or operate more than 20 locations are not eligible for RRF funds.
• When individuals or entities directly or indirectly own or control multiple locations, all locations must be counted toward the 20-location maximum limit for eligibility and the $10 million aggregate limit on RRF funding.
• This includes any locations that operate under separate tax identification numbers or names and applies whether or not ownership or control is through an individual, management, or holding companies or other entities.
• For example, An individual owns or controls 16 restaurants, each with separate tax identification numbers (e.g. EIN/SSN/ITIN) and 5 gas stations. Since all of these businesses (restaurants and gas stations) must be counted, none of the restaurants is eligible for RRF funds.

Oceanside Affiliates:

When You are Filling Out Your RRF Application, You Will Be Asked If The Applicant Has Affiliates.

• You must select “yes,” if the RRF eligible applicant entity has an equity interest or right to profit distributions of 50% or greater of one (or more) other business entity; and/or
• You must select “yes,” if any owner of 20% or greater equity interest of the RRF eligible applicant entity has an equity interest or right to profit distributions of 50% or greater of one (or more) other business entity; and/or
• You must select “yes,” if the Applicant business is a holding company or management company that owns or manages a business other than the Applicant business, or if the Applicant business is held or managed by a company that owns or manages other businesses you must count these entities as separate affiliates and locations.

Who are Oceanside Small Businesses That May Not Apply for Restaurant Revitalization Fund?

Entities are ineligible if any of the following apply:

The Entity:

• Is a State or local government-operated business;
• As of March 13, 2020, owns or operates (together with any affiliated business) more than 20 locations, regardless of whether those locations do business under the same or different names or are indifferent industries;
• Has a pending application for or has received a Shuttered Venue Operators Grant;
• Is a Publicly-Traded Company;
• Is permanently closed;
• It is a Nonprofit organization;
• Is not eligible for funding of at least $1,000.

What SBA EIDL Loan Amount Can You Get from the RFF for Each Restaurant Location in Oceanside?

SBA may provide funding of up to $5,000,000 per location in Oceanside, CA (not to exceed $10,000,000 total for the Applicant and any affiliated businesses) for Applicants who meet eligibility requirements.

The minimum funding amount will be $1,000; therefore, applications requesting less than $1,000 (net required reductions) in funding will not be accepted or approved. For example, if Applicant X has a reduction in revenue of $2,000 but has a PPP loan for $1,500, the Applicant’s application will not be approved for processing and funding because the net funding calculation is less than $1,000.

Gross Receipts

For the Oceanside, CA Restaurant Revitalization Fund program, gross receipts do not include:

• Amounts received from Paycheck Protection Program (PPP) loans (First Draw or Second Draw)
• Amounts received from Economic Injury Disaster Loans (EIDL)
• Advances on EIDL (EIDL Advance and Targeted EIDL Advance)
• State and local grants (via CARES Act or otherwise)
• SBA Section 1112 payments

What Can I Exclude From 2020 Gross Receipts?

Do not include any of the following in 2020 gross receipts:

• Paycheck Protection Program (PPP) loan
– First Draw PPP Loan or Second Draw PPP Loan received in 2020 and/or 2021
• SBA Section 1112 payments;
• SBA Economic Injury Disaster Loan (EIDL) loan, EIDL Advance, Targeted EIDL Advance or any other grant funds received via CARES Act;
• Any state and local business grants;
• Randolph-Sheppard Act Financial Relief and Restoration Payments (FRRP) Appropriation

What are the Eligible Uses of the RRF Funds for Oceanside Restaurants?

Oceanside, CA Restaurant Revitalization Funds may be used for specific expenses, including:

• Business payroll costs (including sick leave)
• Payments on any business mortgage obligation
• Business rent payments (this does not include prepayment of rent)
• Business debt service, both principal and interest (this does not have any prepayment of principal or interest)
• Business utility payments
• Business maintenance expenses
• Construction of outdoor seating
• Business supplies (including protective equipment and cleaning materials)
• Business Food and beverage expenses (including raw materials)
• Covered supplier costs
• Business operating expenses

All Oceanside, CA Applicants have until March 11, 2023, to use award funds. No later than December 31, 2021, all Applicants are required to report through the application portal how much of their award has been used against each eligible use category.

If the Applicant fully expends their funds before December 31, 2021, they will be asked to certify that proceeds have been used on eligible expenses in the application portal. All Applicants that do not fully expend award funds before December 31, 2021, will be required to complete annual reporting submissions until they fully expend the award funding or the period of performance expires.

SBA reserves the right to request supplemental documentation needed to validate the certification.

What to Expect After You Have Applied for Oceanside, CA Restaurant Revitalization Fund?

As outlined by Congress, SBA will review applications from priority applications groups first. Applicants who have submitted non-priority applications will remain in “Review” status while priority applications are processed during the first 21 days. We do not anticipate communicating with applicants in “Review” status during this period.

Following successful application submission, all applications will enter “IRS verification” status. This process may take up to seven days and allows the SBA to validate your application submission.

How to Apply for Oceanside, CA Restaurant Revitalization Fund?

California SBA Update: All Oceanside, CA RFF funds have officially run out in 2021. However there is new hope. In April 2022, legislation was passed to fund $42 billion into the Restaurant Revitalization Fund (RRF) for the 177,000 restaurants that were approved for, but didn’t receive RRF grants. The Senate still needs to approve this bill, and then all eligible restaurants in Oceanside, California can access new RFF funds.

You can apply through SBA-recognized Point of Sale (POS) vendors or directly via SBA in the online application portal. Participating POS providers include Square, Toast, Clover, NCR Corporation (Aloha), and Oracle. If you are working with Square or Toast, you do not need to register beforehand on the application portal.

Registration with SAM.gov is not required. DUNS or CAGE identifiers are also not required.

If you would like to prepare your application, view the SBA Form 3172 sample application. You will be able to complete this form online. Please do not submit RRF forms to SBA at this time.

Additional documentation required:

• Verification for Tax Information. IRS Form 4506-T, completed and signed by Applicant. Completion of this form digitally on the SBA platform will satisfy this requirement.
• Gross Receipts Documentation. Any of the following documents demonstrating gross receipts and, if applicable, eligible expenses:
• Business tax returns (IRS Form 1120 or IRS 1120-S).
• IRS Forms 1040 Schedule C; IRS Forms 1040 Schedule F.
• For a partnership: partnership’s IRS Form 1065 (including K-1s).
• 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.

For Applicants That Are a Brewpub, Tasting Room, Taproom, Brewery, Winery, Distillery, or Bakery:

• Documents evidencing that onsite sales to the public comprise at least 33.00% of gross receipts for 2019, which may include Tax and Trade Bureau (TTB) Forms 5130.9 or TTB.
• For businesses that opened in 2020, the Applicant’s original business model should have contemplated at least 33.00% of gross receipts in onsite sales to the public. 

For Applicants That Operate as an Inn:

• Documents evidencing that onsite food and beverage sales to the public comprise at least 33.00% of gross receipts for 2019.
• For businesses that opened in 2020, the Applicant’s original business model should have contemplated at least 33.00% of gross receipts in onsite sales to the public.

What Documents Do I Need to Apply for the Oceanside, CA Restaurant Revitalization Fund?

Application: 

SBA Form 3172, completed, initialed and signed. Completion of this form digitally on the SBA Grant Platform will satisfy this requirement.

Verification for Tax Information:

IRS Form 4506-T, completed and signed by Applicant. Completion of this form digitally on the SBA Grant Platform will satisfy this requirement.

Gross Receipts Documentation:

Any of the following documents demonstrating gross receipts and, if applicable, eligible expenses.

– Business tax returns (IRS Form 1120 or IRS Form 1120-S);
– IRS Form1040 Schedule C;
– IRS Form 1040 Schedule F;
– For a partnership: partnership’s IRS Form 1065 (including K-1s);
– 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

Required:

– Application – SBA Form 3172
– Tax Verification – IRS Form 4506-T
– 2019 Gross Receipts – Tax Returns
– Most recent 3 months of bank statements
– 2020 Gross Receipts (at least 1)

Preferred:

– Federal Tax Returns filed
– Point of Sale report
– Accepted (may delay review past 14 days):

Externally or internally prepared financial statements such as Income Statements or Profit and Loss Statements, signed, dated & certified as to accuracy by Applicant.

In addition to the above documents, for Applicants that are a brewpub, tasting room, taproom, brewery, winery, distillery, or bakery, documents evidencing that onsite sales to the public comprise at least 33% of gross receipts for 2019, which may include Tax and Trade Bureau forms, state or local forms filed, or internally created reports from inventory management, sales reporting, or accounting software. 

For businesses that opened in 2020, the Applicant’s original business model should have contemplated at least 33% of gross receipts in onsite sales to the public.

For Applicants that are an Inn, documents evidencing that onsite food and beverage sales to the public comprise at least 33% of gross receipts for 2019. For businesses that opened in 2020, the Applicant’s original business model should have contemplated at least 33% of gross receipts in onsite food and beverage sales to the public.

Oceanside, CA Restaurant Revitalization Fund Set-Asides

1. $5 billion is set aside for applicants with 2019 gross receipts of not more than $500,000.
2. An additional $4 billion is set aside for applicants with 2019 gross receipts from $500,001 to $1,500,000.
3. An additional $500 million is set aside for applicants with 2019 gross receipts of not more than $50,000

What to Expect After You Have Applied for Oceanside, CA Restaurant Revitalization Funds?

As outlined by Congress, SBA will review applications from priority applications groups first. Applicants who have submitted non-priority applications will remain in “Review” status while priority applications are processed during the first 21 days. We do not anticipate communicating with applicants in “Review” status during this period.

Following successful application submission, all applications will enter “IRS verification” status. This process may take up to seven days and allows the SBA to validate your application submission.

What are the Best Practices for Getting Approval for the RRF for California Restaurants in Oceanside?

1. Provide complete documentation – Applications with incomplete documentation will be rejected. The review process will restart when complete documentation is provided. Delays could jeopardize the Applicant receiving the award.

2. Leverage your resources – While not required, the use of CPAs and other accounting professionals may help ensure a complete and well-documented application.

3. Application corrections – SBA is not able to make corrections on behalf of Applicants. Applicants who require corrections will need to contact the call center hotline at (844) 279-8898.

4. Applicants who still intend to apply for PPP – RRF applicants are advised to complete their PPP application in advance of the RRF application.

My Oceanside, California Restaurant Revitalization Funds Application was Denied, Now What?

If you’re a business owner in Oceanside, CA who has been denied financial aid from the SBA, you should know that it is possible to be approved after reapplication. However, if your SBA application was rejected due to not meeting eligibility requirements or because your paperwork wasn’t complete, make sure to improve the way you present yourself before applying again.

The first thing that you should check is why your loan application was denied. Then, make sure to thoroughly read over the rejection letter they sent you to help you better prepare next time around.

You can reapply for SBA loans; just make sure to fill out the application as accurately and thoroughly as possible.

For more information, visit the official SBA RRF page.

Conclusion and Summary for Restaurants in Oceanside, California

California Restaurant Revitalization Fund (RRF) is a fund that was created to help small business restaurant owners in Oceanside, CA. Applicants should provide complete documentation when applying, including leveraging resources such as accountants or sba loan advisors.

This RRF fund it’s a great resource for any company looking to expand. Do you think your small business could benefit from the Oceanside, CA RRF? Did you already apply for one? Or, were you turned down for a PPP, EIDL, or other SBA loan in Oceanside, CA?

Share your thoughts in the comment section below.

California Restaurant Help: Get Loan Assistance for Your Restaurant in Oceanside, CA

Was Your Oceanside, CA Restaurant SBA Loan Denied?

Has your Oceanside, CA SBA EIDL loan been denied?

We can assist you in filing for an SBA EIDL California loan reconsideration appeal for your Oceanside, CA restaurant.

Schedule Your Free Disaster Loan Consultation to see if we may be able to help your Oceanside, CA restaurant or related business with the SBA Loan Reconsideration Process.

Need an Increase on Your Oceanside, CA Restaurant SBA Loan?

Did you already receive a California SBA EIDL loan for your restaurant?

We can assist your Oceanside, CA restaurant in requesting additional California SBA EIDL loan funds through the increase request process.

Schedule Your Free Disaster Loan Consultation to see if we may be able to help your Oceanside, CA restaurant or related business with the SBA Increase Request Process.

Cover Image Credit: 123RF.com / Wavebreakmediamicro / Disaster Loan Advisors.

Leave a Reply

Your email address will not be published.