PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Apple Investors Group LLC, Boynton Beach, FL

ALERT: There are 2 PPP loans for a total of $5.62M in our database for businesses with the name "Apple Investors Group LLC" in Boynton Beach, FL. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Apple Investors Group LLC

FRANCHISE

FL

Apple Investors Group LLC

Entity: Limited Liability Company (LLC)

Industry: Full-Service Restaurants

Franchise: Applebee's Neighborhood Grill & Bar

Location: Boynton Beach, FL

Search All PPP Data

Apple Investors Group LLC is a limited liability company (LLC) located at 648 Riviera Dr in Boynton Beach, Florida 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.

The company has reported itself as a male owned business, and employed at least 300 people during the applicable loan loan period.

$ PPP Loan Information
Loan #8628278406

Loan Size:

$2M

Jobs Retained:

300

Loan Approved:

2021-02-13

Loan Status:

Ongoing Loan

Lender:

Montgomery Bank

Apple Investors Group LLC in Boynton Beach, FL received a Paycheck Protection Loan of $2M through Montgomery Bank, which was approved in February, 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 More
Understanding 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 More

Based 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 Investors Group 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 Investors Group LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,999,995
  • Utilities: $1
Because the loan received by Apple Investors Group LLC is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Apple Investors Group LLC in Boynton Beach, FL

Apple Investors Group LLC
648 Riviera Dr
Boynton Beach, FL 33435

Business Industry:
Full-Service Restaurants
NAICS code 722511

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

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

Palm Beach County, FL — SBA Office 0455 — Congressional District: FL-21

Businesses Using Same Address:

There are 3 other businesses that received a PPP loan registered to the same address as Apple Investors Group LLC.

Cape Dogwood 573 LLC
All Other Amusement and Recreation Industries

$172,255 PPP Loan

Pancake Holding Company LLC
Full-Service Restaurants

$433,700 PPP Loan

AIG TN Holding LLC
Full-Service Restaurants

$2M PPP Loan

Similar Companies near Boynton Beach

In the Boynton Beach area, 95 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 33 employees (compared to this company's 300) and received an average PPP loan of $237,947 (compared to this company's $2M).

Industry PPP Comparison Statistics

Nationwide, 326,480 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 Investors Group LLC's reported 300 employees, and received an average PPP loan of $130,209, 93% lower than this company's loan of $2M.

SBA PPP loan data, payroll data, and salaries for Apple Investors Group, LLC

FRANCHISE

FL

Apple Investors Group, LLC

Entity: Limited Liability Company (LLC)

Industry: Full-Service Restaurants

Franchise: Applebee's Neighborhood Grill & Bar

Location: Boynton Beach, FL

Search All PPP Data

Apple Investors Group, LLC is a limited liability company (LLC) located at 648 Riviera Dr in Boynton Beach, Florida that received a Coronavirus-related PPP loan from the SBA of $3,620,000.00 in April, 2020. This business is a Applebee's Neighborhood Grill & Bar franchise.

The company has reported itself as a male owned business, and employed at least 250 people during the applicable loan loan period.

$ PPP Loan Information
Loan #4463387008

Loan Size:

$3.62M

Jobs Retained:

250

Loan Approved:

2020-04-03

Loan Status:

Paid in Full or Forgiven

Lender:

Southern Bank

Apple Investors Group, LLC in Boynton Beach, FL received a Paycheck Protection Loan of $3.62M through Southern Bank, 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.

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 More
Understanding 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 More

Based 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 Investors Group, LLC's 2019 payroll expenses are estimated to be at least $17.38M.

Based on their reported 250 jobs retained, this equals an estimated average yearly compensation of $69,504 per employee1

Reported PPP Proceed Usage:

On the PPP application, Apple Investors Group, LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $2,715,000
  • Utilities: $452,500
  • Rent: $452,500
Because the loan received by Apple Investors Group, LLC is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Apple Investors Group, LLC in Boynton Beach, FL

Apple Investors Group, LLC
648 Riviera Dr
Boynton Beach, FL 33435

Business Industry:
Full-Service Restaurants
NAICS code 722511

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

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

Palm Beach County, FL — SBA Office 0455 — Congressional District: FL-21

Businesses Using Same Address:

There are 3 other businesses that received a PPP loan registered to the same address as Apple Investors Group, LLC.

Cape Dogwood 573 LLC
All Other Amusement and Recreation Industries

$172,255 PPP Loan

Pancake Holding Company LLC
Full-Service Restaurants

$433,700 PPP Loan

AIG TN Holding LLC
Full-Service Restaurants

$2M PPP Loan

Similar Companies near Boynton Beach

In the Boynton Beach area, 95 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 33 employees (compared to this company's 250) and received an average PPP loan of $237,947 (compared to this company's $3.62M).

Industry PPP Comparison Statistics

Nationwide, 326,480 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, 91% lower than Apple Investors Group, LLC's reported 250 employees, and received an average PPP loan of $130,209, 96% lower than this company's loan of $3.62M.

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.

Search FederalPay's Full PPP Loan Database

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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Source: www.federalpay.org/paycheck-protection-program/apple-investors-group-llc-boynton-beach-fl