PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — 61 Main Street Cafe LLC, Millburn, NJ

ALERT: There are 2 PPP loans for a total of $103,452 in our database for businesses with the name "61 Main Street Cafe LLC" in Millburn, NJ. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for 61 Main Street Cafe LLC
NJ

61 Main Street Cafe LLC

Entity: Limited Liability Company (LLC)

Industry: Limited-Service Restaurants

Location: Millburn, NJ

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61 Main Street Cafe LLC is a limited liability company (LLC) located at 61 Main St in Millburn, New Jersey that received a Coronavirus-related PPP loan from the SBA of $53,375.00 in March, 2021.

The company has reported itself as a male owned business, and employed at least five people during the applicable loan loan period.

$ PPP Loan Information
Loan #2459838605

Loan Size:

$53,375

Jobs Retained:

5

Loan Approved:

2021-03-15

Loan Status:

Ongoing Loan

Lender:

Manufacturers and Traders Trust Company

61 Main Street Cafe LLC in Millburn, NJ received a Paycheck Protection Loan of $53,375 through Manufacturers and Traders Trust Company, which was approved in March, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, 61 Main Street Cafe LLC's 2019 payroll expenses are estimated to be at least $256,200.

Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $51,240 per employee1

Reported PPP Proceed Usage:

On the PPP application, 61 Main Street Cafe LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $53,373
  • Utilities: $1

Business Information - 61 Main Street Cafe LLC in Millburn, NJ

61 Main Street Cafe LLC
61 Main St
Millburn, NJ 7041

Business Industry:
Limited-Service Restaurants
NAICS code 722513

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Essex County, NJ — SBA Office 0299 — Congressional District: NJ-07

Similar Companies near Millburn

In the Millburn area, 48 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 13 employees (compared to this company's 5) and received an average PPP loan of $58,689 (compared to this company's $53,375).

Industry PPP Comparison Statistics

Nationwide, 134,591 businesses in the "Limited-Service Restaurants" industry received a total of $13.78B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 2% of the total PPP funding allocated.

PPP recipients in this industry report an average of 21 employees, 320% higher than 61 Main Street Cafe LLC's reported 5 employees, and received an average PPP loan of $102,382, 92% higher than this company's loan of $53,375.

SBA PPP loan data, payroll data, and salaries for 61 Main Street Cafe LLC
NJ

61 Main Street Cafe LLC

Entity: Limited Liability Company (LLC)

Industry: Full-Service Restaurants

Location: Millburn, NJ

Search All PPP Data

61 Main Street Cafe LLC is a limited liability company (LLC) located at 61 Main Street in Millburn, New Jersey that received a Coronavirus-related PPP loan from the SBA of $50,077.00 in May, 2020.

The company has reported itself as a male owned business, and employed at least four people during the applicable loan loan period.

$ PPP Loan Information
Loan #1308547407

Loan Size:

$50,077

Jobs Retained:

4

Loan Approved:

2020-05-04

Loan Status:

Ongoing Loan

Lender:

Cross River Bank

61 Main Street Cafe LLC in Millburn, NJ received a Paycheck Protection Loan of $50,077 through Cross River Bank, which was approved in May, 2020.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, 61 Main Street Cafe LLC's 2019 payroll expenses are estimated to be at least $240,370.

Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $60,093 per employee1

Reported PPP Proceed Usage:

On the PPP application, 61 Main Street Cafe LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $50,077

Business Information - 61 Main Street Cafe LLC in Millburn, NJ

61 Main Street Cafe LLC
61 Main Street
Millburn, NJ 7041

Business Industry:
Full-Service Restaurants
NAICS code 722511

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Essex County, NJ — SBA Office 0299 — Congressional District: NJ-07

Similar Companies near Millburn

In the Millburn area, 127 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 16 employees (compared to this company's 4) and received an average PPP loan of $99,977 (compared to this company's $50,077).

Industry PPP Comparison Statistics

Nationwide, 322,868 businesses in the "Full-Service Restaurants" industry received a total of $42.2B in PPP loans. These businesses account for 3% of total PPP applications submitted, and received 5% of the total PPP funding allocated.

PPP recipients in this industry report an average of 22 employees, 450% higher than 61 Main Street Cafe LLC's reported 4 employees, and received an average PPP loan of $130,696, 161% higher than this company's loan of $50,077.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.

All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/61-main-street-cafe-llc-millburn-nj