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PPP Loan Data — Bottleneck Payroll LLC,
Chicago, IL
Bottleneck Payroll LLC
Entity: Limited Liability Company (LLC)
Industry: Full-Service Restaurants
Location: Chicago, IL
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Bottleneck Payroll LLC is a limited liability company (LLC) located at 2211 N Elston Ave Ste 206 in Chicago, Illinois that received a Coronavirus-related PPP loan from the SBA of $1,963,725.00 in February, 2021.
The company has reported itself as a male owned business, and employed at least 207 people during the applicable loan loan period.
$
PPP Loan Information
Loan #5069648507
Loan Size:
Jobs Retained:
207Loan Approved:
2021-02-27Loan Status:
Paid in Full or ForgivenLender:
Wintrust Bank, National AssociationBottleneck Payroll LLC in Chicago, IL received a Paycheck Protection Loan of $1.96M through Wintrust Bank, National Association, which was approved in February, 2021.
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 January, 2022.
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 MoreUnderstanding 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 MoreBased 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, Bottleneck Payroll LLC's 2019 payroll expenses are estimated to be at least $9.43M.
Based on their reported 207 jobs retained, this equals an estimated average yearly compensation of $45,536 per employee1
Reported PPP Proceed Usage:
On the PPP application, Bottleneck Payroll LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,963,719
- Utilities: $1
Business Information - Bottleneck Payroll LLC in Chicago, IL
2211 N Elston Ave Ste 206
Chicago, IL 60614
Business Industry:
Full-Service Restaurants
NAICS code 722511
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Male Owned
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Chicago
In the Chicago area, 368 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 23 employees (compared to this company's 207) and received an average PPP loan of $162,268 (compared to this company's $1.96M).
Similar Nearby Businesses Who Received PPP Funding:
Riccardo Osteria LLC
Chicago, IL
Mrs. Murphy & Son LTD DBA Mrs. Murphy & Sons Irish Bistro
Chicago, IL
Amdb Restaurant, Inc
Chicago, IL
Bulerias Inc
Chicago, IL
Lucky Strike Addison Clark LLC
Chicago, IL
Cubby Bear Lounge LTD
Chicago, IL
Nookies Too Inc
Chicago, IL
Bottleneck Orlando LLC
Chicago, IL
Not Too Shabby Cycles LLC
Chicago, IL
Industry PPP Comparison Statistics
Nationwide, 326,443 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, 89% lower than Bottleneck Payroll LLC's reported 207 employees, and received an average PPP loan of $130,215, 93% lower than this company's loan of $1.96M.
Bottleneck Payroll, LLC
Entity: Limited Liability Company (LLC)
Industry: Full-Service Restaurants
Location: Chicago, IL
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Bottleneck Payroll, LLC is a limited liability company (LLC) located at 2211 N Elston in Chicago, Illinois that received a Coronavirus-related PPP loan from the SBA of $6,821,250.00 in April, 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 #5048727000
Loan Size:
Jobs Retained:
500Loan Approved:
2020-04-04Loan Status:
Paid in Full or ForgivenLender:
Wintrust Bank, National AssociationBottleneck Payroll, LLC in Chicago, IL received a Paycheck Protection Loan of $6.82M through Wintrust Bank, National Association, 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 MoreUnderstanding 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 MoreBased 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, Bottleneck Payroll, LLC's 2019 payroll expenses are estimated to be at least $32.74M.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $65,484 per employee1
Reported PPP Proceed Usage:
On the PPP application, Bottleneck Payroll, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $5,115,938
- Utilities: $852,656
- Mortgage Interest: $852,656
Business Information - Bottleneck Payroll, LLC in Chicago, IL
2211 N Elston
Chicago, IL 60614
Business Industry:
Full-Service Restaurants
NAICS code 722511
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Male Owned
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Chicago
In the Chicago area, 368 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 23 employees (compared to this company's 500) and received an average PPP loan of $162,268 (compared to this company's $6.82M).
Similar Nearby Businesses Who Received PPP Funding:
Riccardo Osteria LLC
Chicago, IL
Mrs. Murphy & Son LTD DBA Mrs. Murphy & Sons Irish Bistro
Chicago, IL
Amdb Restaurant, Inc
Chicago, IL
Bulerias Inc
Chicago, IL
Lucky Strike Addison Clark LLC
Chicago, IL
Cubby Bear Lounge LTD
Chicago, IL
Nookies Too Inc
Chicago, IL
Bottleneck Orlando LLC
Chicago, IL
Not Too Shabby Cycles LLC
Chicago, IL
Industry PPP Comparison Statistics
Nationwide, 326,443 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, 96% lower than Bottleneck Payroll, LLC's reported 500 employees, and received an average PPP loan of $130,215, 98% lower than this company's loan of $6.82M.
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.
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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