PPP Loan Data — American Huts, Inc., Fairfield, NJ
American Huts, Inc. is a corporation located at 350 Passaic Avenue in Fairfield, New Jersey that received a Coronavirus-related PPP loan from the SBA of $3,317,500.00 in April, 2020.
$ PPP Loan Information
Lender:CITY NATIONAL BANK OF FLORIDA
American Huts, Inc. received a Paycheck Protection Loan of $3.32M through CITY NATIONAL BANK OF FLORIDA, which was approved in April, 2020.
Based on standard PPP eligibility rules, American Huts, Inc.'s total 2019 payroll expenses were approximately $15.92M 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 $31,848 per employee1.
Business Information - American Huts, Inc. in Fairfield, NJ
350 Passaic Avenue
Fairfield, NJ 7004
Limited-Service Restaurants (NAICS code 722513)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: NJ-11
Similar Companies near Fairfield
In the Fairfield area, 28 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 56 employees (compared to this company's 500) and received an average PPP loan of $348,633 (compared to this company's $3.32M).
Similar Nearby Businesses Who Received PPP Funding:
Sazon Latino LLC
Babylon Trading LLC
Punjab Indian Restaurant LLC
Lakeview Bagels LLC
SE Restaurant Development, LLC
Sushi Laco Inc
New Bay Corp
Industry PPP Comparison Statistics
Nationwide, 79,996 businesses in the "Limited-Service Restaurants" industry received a total of $9,671,819,152.00 in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 23 employees, 95% lower than American Huts, Inc.'s reported 500 employees, and received an average PPP loan of $120,904, 96% lower than this company's loan of $3.32M.
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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