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PPP Loan Data — Apple Food Service Of Piscataway Inc,
Allendale, NJ
FRANCHISE
NJApple Food Service Of Piscataway Inc
Entity: Subchapter S Corporation
Industry: Full-Service Restaurants
Franchise: Applebee's Neighborhood Grill & Bar
Location: Allendale, NJ
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Apple Food Service Of Piscataway Inc is a subchapter s corporation located at 7 Pearl Ct in Allendale, New Jersey that received a Coronavirus-related PPP loan from the SBA of $393,094.00 in March, 2021. This business is a Applebee's Neighborhood Grill & Bar franchise.
$
PPP Loan Information
Loan #5833668509
Loan Size:
Jobs Retained:
35Loan Approved:
2021-03-02Loan Status:
Ongoing LoanLender:
Equity BankApple Food Service Of Piscataway Inc in Allendale, NJ received a Paycheck Protection Loan of $393,094 through Equity Bank, 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 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 Piscataway Inc's 2019 payroll expenses are estimated to be at least $1.89M.
Based on their reported 35 jobs retained, this equals an estimated average yearly compensation of $53,910 per employee1
Reported PPP Proceed Usage:
On the PPP application, Apple Food Service Of Piscataway Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $393,094
Business Information - Apple Food Service Of Piscataway Inc 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
Similar Companies near Allendale
In the Allendale area, 35 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 118 employees (compared to this company's 35) and received an average PPP loan of $1,008,491 (compared to this company's $393,094).
Similar Nearby Businesses Who Received PPP Funding:
TMD Food Service Inc
Allendale, NJ
The Doherty Group Inc
Allendale, NJ
Bravo Hospitality LLC
Allendale, NJ
Allendale Steakhouse Inc
Allendale, NJ
Apple Food Service Of Woodbridge Inc
Allendale, NJ
Doherty Apple Florida LLC
Allendale, NJ
Apple Food Service Of Tinton Falls Inc
Allendale, NJ
Apple Food Service Holding Company LLC
Allendale, NJ
Doherty Breads Long Island LLC
Allendale, NJ
Industry PPP Comparison Statistics
Nationwide, 309,144 businesses in the "Full-Service Restaurants" industry received a total of $40.98B in PPP loans. These businesses account for 3% of total PPP applications submitted, and received 6% of the total PPP funding allocated.
PPP recipients in this industry report an average of 23 employees, 34% lower than Apple Food Service Of Piscataway Inc's reported 35 employees, and received an average PPP loan of $132,556, 66% lower than this company's loan of $393,094.
FRANCHISE
NJApple Food Service Of Piscataway Inc
Entity: Subchapter S Corporation
Industry: Limited-Service Restaurants
Franchise: Applebee's Neighborhood Grill & Bar
Location: Allendale, NJ
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Apple Food Service Of Piscataway Inc is a subchapter s corporation located at 7 Pearl Ct in Allendale, New Jersey that received a Coronavirus-related PPP loan from the SBA of $289,947.00 in April, 2020. This business is a Applebee's Neighborhood Grill & Bar franchise.
$
PPP Loan Information
Loan #8305547000
Loan Size:
Jobs Retained:
41Loan Approved:
2020-04-08Loan Status:
Paid in Full or ForgivenLender:
TD Bank, National AssociationApple Food Service Of Piscataway Inc in Allendale, NJ received a Paycheck Protection Loan of $289,947 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 March, 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 Piscataway Inc's 2019 payroll expenses are estimated to be at least $1.39M.
Based on their reported 41 jobs retained, this equals an estimated average yearly compensation of $33,945 per employee1
Reported PPP Proceed Usage:
On the PPP application, Apple Food Service Of Piscataway Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $289,947
Business Information - Apple Food Service Of Piscataway Inc 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
Similar Companies near Allendale
In the Allendale area, 31 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 85 employees (compared to this company's 41) and received an average PPP loan of $1,033,230 (compared to this company's $289,947).
Similar Nearby Businesses Who Received PPP Funding:
Hasbrouck Heights Drive-In, LLC
Allendale, NJ
Apple Food Service Of New Jersey LLC
Allendale, NJ
Ceyda1 Limited Liability Company
Allendale, NJ
Apple Food Service Of Suffolk, LLC
Allendale, NJ
Apple Food Service Of Totowa, Inc
Allendale, NJ
Mezzo Services, LLC
Allendale, NJ
Yogybee
Allendale, NJ
Apple Food Service Holding Co LLC
Allendale, NJ
Double A Bagels, Inc
Allendale, NJ
Industry PPP Comparison Statistics
Nationwide, 127,949 businesses in the "Limited-Service Restaurants" industry received a total of $13.48B 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 22 employees, 46% lower than Apple Food Service Of Piscataway Inc's reported 41 employees, and received an average PPP loan of $105,388, 64% lower than this company's loan of $289,947.
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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