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

PPP Loan Data — Boiling Crab Restaurant Group LLC, Garden Grove, CA

ALERT: There are 2 PPP loans for a total of $4.13M in our database for businesses with the name "Boiling Crab Restaurant Group LLC" in Garden Grove, CA. 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 Boiling Crab Restaurant Group LLC

FRANCHISE

CA

Boiling Crab Restaurant Group LLC

Entity: Limited Liability Company (LLC)

Industry: Full-Service Restaurants

Franchise: The Boiling Crab

Location: Garden Grove, CA

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Boiling Crab Restaurant Group LLC is a limited liability company (LLC) located at 14331 Euclid St in Garden Grove, California that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in February, 2021. This business is a The Boiling Crab franchise.

The company has reported itself as an Asian owned business, and employed at least 299 people during the applicable loan loan period.

$ PPP Loan Information
Loan #4514508505

Loan Size:

$2M

Jobs Retained:

299

Loan Approved:

2021-02-26

Loan Status:

Ongoing Loan

Lender:

Signature Bank

Boiling Crab Restaurant Group LLC in Garden Grove, CA received a Paycheck Protection Loan of $2M through Signature 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, Boiling Crab Restaurant Group LLC's 2019 payroll expenses are estimated to be at least $9.6M.

Based on their reported 299 jobs retained, this equals an estimated average yearly compensation of $32,107 per employee1

Reported PPP Proceed Usage:

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

  • Payroll: $2,000,000
Because the loan received by Boiling Crab Restaurant 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 - Boiling Crab Restaurant Group LLC in Garden Grove, CA

Boiling Crab Restaurant Group LLC
14331 Euclid St
Garden Grove, CA 92843

Business Industry:
Full-Service Restaurants
NAICS code 722511

Business Owner Demographics

Race: Asian

Ethnicity: Not Hispanic or Latino

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: N

Rural / Urban: Urban

Orange County, CA — SBA Office 0920 — Congressional District: CA-48

Similar Companies near Garden Grove

In the Garden Grove area, 173 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 24 employees (compared to this company's 299) and received an average PPP loan of $113,956 (compared to this company's $2M).

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, 93% lower than Boiling Crab Restaurant Group LLC's reported 299 employees, and received an average PPP loan of $129,504, 94% lower than this company's loan of $2M.

SBA PPP loan data, payroll data, and salaries for Boiling Crab Restaurant Group, LLC
CA

Boiling Crab Restaurant Group, LLC

Entity: Limited Liability Company (LLC)

Industry: Full-Service Restaurants

Location: Garden Grove, CA

Search All PPP Data

Boiling Crab Restaurant Group, LLC is a limited liability company (LLC) located at 14331 Euclid St Ste 207 in Garden Grove, California that received a Coronavirus-related PPP loan from the SBA of $2,131,850.00 in April, 2020.

The company has reported itself as an Asian female owned business, and employed at least 352 people during the applicable loan loan period.

$ PPP Loan Information
Loan #4105507203

Loan Size:

$2.13M

Jobs Retained:

352

Loan Approved:

2020-04-27

Loan Status:

Ongoing Loan

Lender:

Riverview Bank

Boiling Crab Restaurant Group, LLC in Garden Grove, CA received a Paycheck Protection Loan of $2.13M through Riverview Bank, which was approved in April, 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, Boiling Crab Restaurant Group, LLC's 2019 payroll expenses are estimated to be at least $10.23M.

Based on their reported 352 jobs retained, this equals an estimated average yearly compensation of $29,071 per employee1

Reported PPP Proceed Usage:

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

  • Payroll: $2,131,850
Because the loan received by Boiling Crab Restaurant 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 - Boiling Crab Restaurant Group, LLC in Garden Grove, CA

Boiling Crab Restaurant Group, LLC
14331 Euclid St Ste 207
Garden Grove, CA 92843

Business Industry:
Full-Service Restaurants
NAICS code 722511

Business Owner Demographics

Race: Asian

Ethnicity: Not Hispanic or Latino

Gender: Female Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: N

Rural / Urban: Urban

Orange County, CA — SBA Office 0920 — Congressional District: CA-47

Similar Companies near Garden Grove

In the Garden Grove area, 173 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 24 employees (compared to this company's 352) and received an average PPP loan of $113,956 (compared to this company's $2.13M).

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, 94% lower than Boiling Crab Restaurant Group, LLC's reported 352 employees, and received an average PPP loan of $129,504, 94% lower than this company's loan of $2.13M.

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/boiling-crab-restaurant-group-llc-garden-grove-ca