PPP Loan Data — Blue Plate Restaurant Company, Inc., Minneapolis, MN
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
Lender:SUNRISE BANKS, NATIONAL ASSOCIATION
Blue 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
Full-Service Restaurants (NAICS code 722511)
Business Owner Demographics
Race / Ethnicity: WHITE
Gender: MALE OWNED
Veteran Status: NON-VETERANCongressional District: MN-05
Similar 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).
Similar Nearby Businesses Who Received PPP Funding:
Mpls Skyway DqOj, LLC
730 Washington LLC
Los Ocampo Express 1, Inc.
Zelo Acquisition Corporation
Stadium Bar And Grill
Pizza Luce VI, Inc
Sorrento Cucina Due Inc
Sorrento Pizza And Pasta Inc
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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