If there is a catch in taking the money, which does not appear to be the case, then I think not taking the money is misguided. It was not the Federal government or Donald Trump which ordered the shelter in place, which has devastated many businesses. It was the Berkeley City Health Officer who ordered the shelter in place, in cooperation with county and city health officers of other counties and cities, followed a few days later with a state wide order to shelter in place from Governor Newsom.
This is true around the nation, as governors and local officials of some counties, cities and states are the ones who have instituted shelter in place policies. The President has resisted issuing such orders, and the federal government has issued only guidelines. The President and the Federal government are now only trying to provide assistance to small businesses in trouble. If Top Dog management is Leftist in viewpoint, then that may be the reason they refuse the aid, simply because it comes from this President. If the management is Libertarian, the move not to take the money is foolhardy, if they want to stay in business, especially if the loans may be forgiven if Top Dog retains their employees, which seems to be the plan of the federal government. To do something that is self-destructive to their business, just because of contempt for the President or a political party, or the government in general, is suicide for the business, and harms its employees, which is just not necessary, or smart, IMO.