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PPP Loan Data — Big Boy Restaurant Group, LLC, Southfield, MI

SBA PPP loan data, payroll data, and salaries for Big Boy Restaurant Group, LLC
MI

Big Boy Restaurant Group, LLC

Entity: Limited Liability Company (LLC)

Industry: Full-Service Restaurants

Location: Southfield, MI

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Big Boy Restaurant Group, LLC is a limited liability company (LLC) located at 26300 Telegraph Rd Fl 2 in Southfield, Michigan that received a Coronavirus-related PPP loan from the SBA of $1,751,990.00 in May, 2020.

The company has reported itself as a male owned business, and employed at least 500 people during the applicable loan loan period.

$ PPP Loan Information
Loan #1900377708

Loan Size:

$1.75M

Jobs Retained:

500

Loan Approved:

2020-05-01

Loan Status:

Ongoing Loan

Lender:

JPMorgan Chase Bank, National Association

Big Boy Restaurant Group, LLC in Southfield, MI received a Paycheck Protection Loan of $1.75M through JPMorgan Chase Bank, National Association, which was approved in May, 2020.

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, Big Boy Restaurant Group, LLC's 2019 payroll expenses are estimated to be at least $8.41M.

Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $16,819 per employee1

Reported PPP Proceed Usage:

On the PPP application, Big Boy Restaurant Group, LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,401,591
  • Utilities: $70,000
  • Rent: $275,399
  • Health Care: $5,000

Business Information - Big Boy Restaurant Group, LLC in Southfield, MI

Big Boy Restaurant Group, LLC
26300 Telegraph Rd Fl 2
Southfield, MI 48033

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: New Business or 2 years or less

LMI Zone: Y

HUBZone: Y

Rural / Urban: Urban

Oakland County, MI — SBA Office 0515 — Congressional District: MI-14

Similar Companies near Southfield

In the Southfield area, 68 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 52 employees (compared to this company's 500) and received an average PPP loan of $232,505 (compared to this company's $1.75M).

Industry PPP Comparison Statistics

Nationwide, 328,914 businesses in the "Full-Service Restaurants" industry received a total of $42.6B 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, 96% lower than Big Boy Restaurant Group, LLC's reported 500 employees, and received an average PPP loan of $129,504, 93% lower than this company's loan of $1.75M.

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/big-boy-restaurant-group-llc-southfield-mi