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PPP Loan Data — Apple Food Service Of New Jersey LLC,
Allendale, NJ
FRANCHISE
NJApple Food Service Of New Jersey LLC
Entity: Limited Liability Company (LLC)
Industry: Full-Service Restaurants
Franchise: Applebee's Neighborhood Grill & Bar
Location: Allendale, NJ
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Apple Food Service Of New Jersey LLC is a limited liability company (LLC) located at 7 Pearl Ct in Allendale, New Jersey that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in February, 2021. This business is a Applebee's Neighborhood Grill & Bar franchise.
$
PPP Loan Information
Loan #3869368407
Loan Size:
Jobs Retained:
300Loan Approved:
2021-02-05Loan Status:
Paid in Full or ForgivenLender:
Equity BankApple Food Service Of New Jersey LLC in Allendale, NJ received a Paycheck Protection Loan of $2M through Equity Bank, which was approved in February, 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 November, 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, Apple Food Service Of New Jersey LLC's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 300 jobs retained, this equals an estimated average yearly compensation of $32,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Apple Food Service Of New Jersey LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,000,000
Business Information - Apple Food Service Of New Jersey LLC in Allendale, NJ
7 Pearl Ct
Allendale, NJ 7401
Business Industry:
Full-Service Restaurants
NAICS code 722511
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
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 are 9 other businesses that received a PPP loan registered to the same address as Apple Food Service Of New Jersey LLC.
Mezzo Services, LLC
Limited-Service Restaurants
Doherty Specialty Breads LLC
Full-Service Restaurants
Apple Food Service Of Piscataway Inc
Limited-Service Restaurants
Applebee's
Limited-Service Restaurants
Apple Food Service Of Brick Inc
Limited-Service Restaurants
Spuntino Of New York, LLC
Limited-Service Restaurants
Apple Food Service Of Woodmere LLC
Limited-Service Restaurants
Apple Food Service Of Parsippany LLC
Limited-Service Restaurants
Apple Food Service Of Woodbridge Inc
Limited-Service Restaurants
Similar Companies near Allendale
In the Allendale area, 37 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 114 employees (compared to this company's 300) and received an average PPP loan of $977,690 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Apple Food Service Holding Company LLC
Allendale, NJ
Asian Grill Allendale Inc
Allendale, NJ
Apple Food Service Of Totowa Inc
Allendale, NJ
Apple Food Service Of Tinton Falls Inc
Allendale, NJ
Apple Food Service Of Brick Inc
Allendale, NJ
Bravo Hospitality LLC
Allendale, NJ
Doherty Specialty Breads LLC
Allendale, NJ
Donegals Irish Pub Of Ramsey, LLC
Allendale, NJ
Apple Food Service Of Woodmere LLC
Allendale, NJ
Industry PPP Comparison Statistics
Nationwide, 326,447 businesses in the "Full-Service Restaurants" industry received a total of $42.51B 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 Apple Food Service Of New Jersey LLC's reported 300 employees, and received an average PPP loan of $130,221, 93% lower than this company's loan of $2M.
FRANCHISE
NJApple Food Service Of New Jersey LLC
Entity: Limited Liability Company (LLC)
Industry: Limited-Service Restaurants
Franchise: Applebee's Neighborhood Grill & Bar
Location: Allendale, NJ
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•
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Apple Food Service Of New Jersey LLC is a limited liability company (LLC) located at 7 Pearl Ct in Allendale, New Jersey that received a Coronavirus-related PPP loan from the SBA of $9,092,837.00 in April, 2020. This business is a Applebee's Neighborhood Grill & Bar franchise.
$
PPP Loan Information
Loan #8015747003
Loan Size:
Jobs Retained:
24Loan Approved:
2020-04-08Loan Status:
Paid in Full or ForgivenLender:
TD Bank, National AssociationApple Food Service Of New Jersey LLC in Allendale, NJ received a Paycheck Protection Loan of $9.09M through TD Bank, National Association, 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 July, 2021.
The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 24 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 436. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
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, Apple Food Service Of New Jersey LLC's 2019 payroll expenses are estimated to be at least $43.65M (not accounting for salary amounts > $100k).
Because the 24 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, Apple Food Service Of New Jersey LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $9,092,837
Business Information - Apple Food Service Of New Jersey LLC in Allendale, NJ
7 Pearl Ct
Allendale, NJ 7401
Business Industry:
Limited-Service Restaurants
NAICS code 722513
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
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 are 9 other businesses that received a PPP loan registered to the same address as Apple Food Service Of New Jersey LLC.
Mezzo Services, LLC
Limited-Service Restaurants
Doherty Specialty Breads LLC
Full-Service Restaurants
Apple Food Service Of Piscataway Inc
Limited-Service Restaurants
Applebee's
Limited-Service Restaurants
Apple Food Service Of Brick Inc
Limited-Service Restaurants
Spuntino Of New York, LLC
Limited-Service Restaurants
Apple Food Service Of Woodmere LLC
Limited-Service Restaurants
Apple Food Service Of Parsippany LLC
Limited-Service Restaurants
Apple Food Service Of Woodbridge Inc
Limited-Service Restaurants
Similar Companies near Allendale
In the Allendale area, 32 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 83 employees (compared to this company's 24) and received an average PPP loan of $1,002,486 (compared to this company's $9.09M).
Similar Nearby Businesses Who Received PPP Funding:
Yogybee
Allendale, NJ
Trtd Donuts Allendale LLC
Allendale, NJ
Apple Food Service Of Brick Inc
Allendale, NJ
Allendale Steakhouse Inc
Allendale, NJ
Applebee's
Allendale, NJ
Hasbrouck Heights Drive-In, LLC
Allendale, NJ
Apple Food Service Of Woodbridge Inc
Allendale, NJ
Spuntino Of New York, LLC
Allendale, NJ
Apple Food Service Of Suffolk, LLC
Allendale, NJ
Industry PPP Comparison Statistics
Nationwide, 136,544 businesses in the "Limited-Service Restaurants" industry received a total of $13.87B 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, 13% lower than Apple Food Service Of New Jersey LLC's reported 24 employees, and received an average PPP loan of $101,555, 99% lower than this company's loan of $9.09M.
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.
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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