PPP Loan Data — AGK Restaurants, Inc, Phoenix, AZ
AGK Restaurants, Inc is a limited liability company (LLC) located at 5016 N 6th St Ste A in Phoenix, Arizona that received a Coronavirus-related PPP loan from the SBA of $4,676,200.00 in April, 2020.
$ PPP Loan Information
Lender:BMO HARRIS BANK NATIONAL ASSOCIATION
AGK Restaurants, Inc received a Paycheck Protection Loan of $4.68M through BMO HARRIS BANK NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, AGK Restaurants, Inc's total 2019 payroll expenses were approximately $22.45M in order to qualify for the PPP loan amount received.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $44,892 per employee1.
Business Information - AGK Restaurants, Inc in Phoenix, AZ
5016 N 6th St Ste A
Phoenix, AZ 85012
Full-Service Restaurants (NAICS code 722511)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: AZ-09
Similar Companies near Phoenix
In the Phoenix area, 32 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 50 employees (compared to this company's 500) and received an average PPP loan of $405,487 (compared to this company's $4.68M).
Similar Nearby Businesses Who Received PPP Funding:
Restaurant Progress LLC
George And Dragon Inc
Erickbertos Mexican Food Inc
D'Lite Healthy On The Go LLC
Solo's Cafe LLC
Rggr Holdings LLC
WD Tucson Op LLC
Thai Long-An LLC
Industry PPP Comparison Statistics
Nationwide, 175,054 businesses in the "Full-Service Restaurants" industry received a total of $20,426,260,320.00 in PPP loans. These businesses account for 3% of total PPP applications submitted, and received 4% of the total PPP funding allocated.
PPP recipients in this industry report an average of 20 employees, 96% lower than AGK Restaurants, Inc's reported 500 employees, and received an average PPP loan of $116,685, 98% lower than this company's loan of $4.68M.
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.
Footnotes & Information
1. 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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