If you received RRF money, please pay close attention to this post.
The SBA requires that all grantees report, by December 31, 2021, how they have used their RRF grant up that point. All reporting should be done through the SBA application portal.
Haven’t fully expended your RRF money yet? Don’t worry. You have until March 11, 2023 (or until you permanently close) to do so, but you must complete the annual reporting submission until you fully expend the funds or the period of the grant expires.
Not going to use all the funds? You must return them and complete the reporting process by the deadline.
Note that, in all cases, the SBA may request supplemental documentation from you to verify that you have used your RRF grant for allowable purposes. As a reminder, those are:
- Business payroll costs like sick leave and costs related to the continuation of group health care, life, disability, vision, or dental benefits during periods of paid sick, medical, or family leave, and group health care, life, disability, vision or dental insurance premiums.
- Payments on any business mortgage obligation (principal and interest provided you’re not prepaying the mortgage).
- Business rent payments, including rent under a lease agreement (excluding any prepayment).
- Business debt service (principal and interest but excluding prepayment of principal or interest).
- Business utility payments -- utilities used in the ordinary course of business.
- Business maintenance expenses.
- Construction of outdoor seating.
- Business supplies, including protective equipment and cleaning materials.
- Business food and beverage expenses, including raw materials for beer, wine, or spirits.
- Covered supplier costs that are essential to the operations your business.
- Business operating expenses -- business expenses incurred through normal business operations that are necessary and mandatory for the business (e.g., rent, equipment, supplies, inventory, accounting, training, legal, marketing, insurance, licenses and fees). Business operating expenses exclude expenses that occur outside of a company’s day-to-day activities.
If you have any questions about your RRF grant or how to proceed with reporting, please let us know. The December 31 deadline is quickly approaching!