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PPP Loan Data — Abuelo's International LP,
Lubbock, TX
Abuelo's International LP
Entity: Limited Liability Partnership
Industry: Full-Service Restaurants
Location: Lubbock, TX
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Abuelo's International LP is a limited liability partnership located at 4413 82nd St Ste 250 in Lubbock, Texas that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in March, 2021.
$
PPP Loan Information
Loan #1668088607
Loan Size:
Jobs Retained:
299Loan Approved:
2021-03-13Loan Status:
Paid in Full or ForgivenLender:
First Bank & TrustAbuelo's International LP in Lubbock, TX received a Paycheck Protection Loan of $2M through First Bank & Trust, which was approved in March, 2021.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in December, 2021.
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 MoreUnderstanding 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 MoreBased 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, Abuelo's International LP's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 299 jobs retained, this equals an estimated average yearly compensation of $32,107 per employee1
Reported PPP Proceed Usage:
On the PPP application, Abuelo's International LP reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,000,000
Business Information - Abuelo's International LP in Lubbock, TX
4413 82nd St Ste 250
Lubbock, TX 79424
Business Industry:
Full-Service Restaurants
NAICS code 722511
Business Owner Demographics
Race: Unreported
Ethnicity: Not Hispanic or Latino
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Businesses Using Same Address:
There is one other business that received a PPP loan registered to the same address as Abuelo's International LP.
Food Concepts International LP
Full-Service Restaurants
Similar Companies near Lubbock
In the Lubbock area, 76 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 44 employees (compared to this company's 299) and received an average PPP loan of $316,862 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
TJT Holdings LLC
Lubbock, TX
Pastaquik, LP
Lubbock, TX
Team Smoothie, LTD
Lubbock, TX
JVR Food & Beverage Investment LLC
Lubbock, TX
Changle Co
Lubbock, TX
DYJ O'hana, LLC
Lubbock, TX
WJW Restaurant Group LLC
Lubbock, TX
South San Angelo Nks LTD
Lubbock, TX
Bigham's Smokehouse Inc
Lubbock, TX
Industry PPP Comparison Statistics
Nationwide, 326,413 businesses in the "Full-Service Restaurants" industry received a total of $42.5B 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, 93% lower than Abuelo's International LP's reported 299 employees, and received an average PPP loan of $130,196, 93% lower than this company's loan of $2M.
Abuelo's International, LP
Entity: Limited Liability Partnership
Industry: Full-Service Restaurants
Location: Lubbock, TX
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Abuelo's International, LP is a limited liability partnership located at 4413 82nd Suite 250 in Lubbock, Texas that received a Coronavirus-related PPP loan from the SBA of $10,000,000.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 500 people during the applicable loan loan period.
$
PPP Loan Information
Loan #4994467105
Loan Size:
Jobs Retained:
500Loan Approved:
2020-04-13Loan Status:
Paid in Full or ForgivenLender:
First Bank & TrustAbuelo's International, LP in Lubbock, TX received a Paycheck Protection Loan of $10M through First Bank & Trust, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in September, 2021.
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 MoreUnderstanding 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 MoreBased 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, Abuelo's International, LP's 2019 payroll expenses are estimated to be at least $48M.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $96,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Abuelo's International, LP reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $10,000,000
Business Information - Abuelo's International, LP in Lubbock, TX
4413 82nd Suite 250
Lubbock, TX 79424
Business Industry:
Full-Service Restaurants
NAICS code 722511
Business Owner Demographics
Race: Unreported
Ethnicity: Not Hispanic or Latino
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
Similar Companies near Lubbock
In the Lubbock area, 76 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 44 employees (compared to this company's 500) and received an average PPP loan of $316,862 (compared to this company's $10M).
Similar Nearby Businesses Who Received PPP Funding:
TJT Holdings LLC
Lubbock, TX
Pastaquik, LP
Lubbock, TX
Team Smoothie, LTD
Lubbock, TX
JVR Food & Beverage Investment LLC
Lubbock, TX
Changle Co
Lubbock, TX
DYJ O'hana, LLC
Lubbock, TX
WJW Restaurant Group LLC
Lubbock, TX
South San Angelo Nks LTD
Lubbock, TX
Bigham's Smokehouse Inc
Lubbock, TX
Industry PPP Comparison Statistics
Nationwide, 326,413 businesses in the "Full-Service Restaurants" industry received a total of $42.5B 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, 96% lower than Abuelo's International, LP's reported 500 employees, and received an average PPP loan of $130,196, 99% lower than this company's loan of $10M.
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.
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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