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PPP Loan Data — Blue Plate Restaurant Company, Inc.,
Minneapolis, MN
Blue Plate Restaurant Company, Inc.
Entity: Corporation
Industry: Full-Service Restaurants
Location: Minneapolis, MN
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Blue Plate Restaurant Company, Inc. is a corporation located at 901 N 3rd St Ste 117 in Minneapolis, Minnesota that received a Coronavirus-related PPP loan from the SBA of $3,906,700.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 232 people during the applicable loan loan period.
$ PPP Loan Information
Loan Size:
Jobs Retained:
232Loan Approved:
2020-04-04Lender:
SUNRISE BANKS, NATIONAL ASSOCIATIONBlue Plate Restaurant Company, Inc. in Minneapolis, MN received a Paycheck Protection Loan of $3.91M through SUNRISE BANKS, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Blue Plate Restaurant Company, Inc.'s total 2019 payroll expenses were approximately $18.75M in order to qualify for the PPP loan amount received.
Based on their reported 232 jobs retained, this equals an estimated average yearly compensation of $80,828 per employee1.
Business Information - Blue Plate Restaurant Company, Inc. in Minneapolis, MN
901 N 3rd St Ste 117
Minneapolis, MN 55401
Business Industry
Full-Service Restaurants (NAICS code 722511)
Business Owner Demographics
Race / Ethnicity: WHITE
Gender: MALE OWNED
Veteran Status: NON-VETERAN
Congressional District: MN-05Similar Companies near Minneapolis
In the Minneapolis area, 81 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 34 employees (compared to this company's 232) and received an average PPP loan of $288,153 (compared to this company's $3.91M).
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Industry PPP Comparison Statistics
Nationwide, 175,054 businesses in the "Full-Service Restaurants" industry received a total of $20,426,260,320.00 in PPP loans. These businesses account for 3% of total PPP applications submitted, and received 4% of the total PPP funding allocated.
PPP recipients in this industry report an average of 20 employees, 91% lower than Blue Plate Restaurant Company, Inc.'s reported 232 employees, and received an average PPP loan of $116,685, 97% lower than this company's loan of $3.91M.
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, 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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