FederalPay.org
PPP Loan Data — Central Florida Restaurants Inc,
Fremont, CA
FRANCHISE
CACentral Florida Restaurants Inc
Entity: Corporation
Industry: Full-Service Restaurants
Franchise: TGI Fridays
Location: Fremont, CA
Tweet This
•
Search All PPP Data
Central Florida Restaurants Inc is a corporation located at 3550 Mowry Ave in Fremont, California that received a Coronavirus-related PPP loan from the SBA of $1,990,000.00 in April, 2021. This business is a TGI Fridays franchise.
The company has reported itself as an Asian male owned business, and employed at least 66 people during the applicable loan loan period.
$
PPP Loan Information
Loan #5171148702
Loan Size:
Jobs Retained:
66Loan Approved:
2021-04-02Loan Status:
Ongoing LoanLender:
The Bancorp Bank National AssociationCentral Florida Restaurants Inc in Fremont, CA received a Paycheck Protection Loan of $1.99M through The Bancorp Bank National Association, which was approved in April, 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.
The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 66 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 96. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
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, Central Florida Restaurants Inc's 2019 payroll expenses are estimated to be at least $9.55M (not accounting for salary amounts > $100k).
Because the 66 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, Central Florida Restaurants Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,989,994
- Utilities: $1
Business Information - Central Florida Restaurants Inc in Fremont, CA
3550 Mowry Ave
Fremont, CA 94538
Business Industry:
Full-Service Restaurants
NAICS code 722511
Business Owner Demographics
Race: Asian
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: Y
Rural / Urban: Urban
Businesses Using Same Address:
There are 9 other businesses that received a PPP loan registered to the same address as Central Florida Restaurants Inc.
Jackson Diner LLC
Limited-Service Restaurants
Eagle Ridge LLC
Golf Courses and Country Clubs
Midwest Jack, Inc
Limited-Service Restaurants
Reshsam, Inc
Limited-Service Restaurants
Krupa, LLC
Hotels (except Casino Hotels) and Motels
A & L Pizza, Inc
Limited-Service Restaurants
AV, Inc
Limited-Service Restaurants
Reshiv, Inc
Limited-Service Restaurants
Yadav, Inc
Limited-Service Restaurants
Similar Companies near Fremont
In the Fremont area, 198 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 21 employees (compared to this company's 66) and received an average PPP loan of $188,624 (compared to this company's $1.99M).
Similar Nearby Businesses Who Received PPP Funding:
Milad And Sons Corporation
Fremont, CA
Quyen Tram
Fremont, CA
Little By Little Farm To Table
Fremont, CA
Kwangwuk Kwon
Fremont, CA
SupamittDBA Salathai 2 Restaurant
Fremont, CA
Tayyab Food Inc
Fremont, CA
JIA Yin Restaurant Corporation
Fremont, CA
Qochon
Fremont, CA
Moriya Corporation
Fremont, CA
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, 67% lower than Central Florida Restaurants Inc's reported 66 employees, and received an average PPP loan of $130,215, 93% lower than this company's loan of $1.99M.
FRANCHISE
CACentral Florida Restaurants, Inc
Entity: Corporation
Industry: Full-Service Restaurants
Franchise: TGI Fridays
Location: Fremont, CA
Tweet This
•
Search All PPP Data
Central Florida Restaurants, Inc is a corporation located at 3550 Mowry Ave in Fremont, California that received a Coronavirus-related PPP loan from the SBA of $10,000,000.00 in April, 2020. This business is a TGI Fridays franchise.
The company has reported itself as an Asian male owned business, and employed at least 500 people during the applicable loan loan period.
$
PPP Loan Information
Loan #6161797104
Loan Size:
Jobs Retained:
500Loan Approved:
2020-04-14Loan Status:
Paid in Full or ForgivenLender:
The Bancorp Bank National AssociationCentral Florida Restaurants, Inc in Fremont, CA received a Paycheck Protection Loan of $10M through The Bancorp 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, Central Florida Restaurants, Inc's 2019 payroll expenses are estimated to be at least $48M.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $96,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Central Florida Restaurants, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $10,000,000
Business Information - Central Florida Restaurants, Inc in Fremont, CA
3550 Mowry Ave
Fremont, CA 94538
Business Industry:
Full-Service Restaurants
NAICS code 722511
Business Owner Demographics
Race: Asian
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: Y
Rural / Urban: Urban
Businesses Using Same Address:
There are 9 other businesses that received a PPP loan registered to the same address as Central Florida Restaurants, Inc.
Jackson Diner LLC
Limited-Service Restaurants
Eagle Ridge LLC
Golf Courses and Country Clubs
Midwest Jack, Inc
Limited-Service Restaurants
Reshsam, Inc
Limited-Service Restaurants
Krupa, LLC
Hotels (except Casino Hotels) and Motels
A & L Pizza, Inc
Limited-Service Restaurants
AV, Inc
Limited-Service Restaurants
Reshiv, Inc
Limited-Service Restaurants
Yadav, Inc
Limited-Service Restaurants
Similar Companies near Fremont
In the Fremont area, 198 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 21 employees (compared to this company's 500) and received an average PPP loan of $188,624 (compared to this company's $10M).
Similar Nearby Businesses Who Received PPP Funding:
Milad And Sons Corporation
Fremont, CA
Quyen Tram
Fremont, CA
Little By Little Farm To Table
Fremont, CA
Kwangwuk Kwon
Fremont, CA
SupamittDBA Salathai 2 Restaurant
Fremont, CA
Tayyab Food Inc
Fremont, CA
JIA Yin Restaurant Corporation
Fremont, CA
Qochon
Fremont, CA
Moriya Corporation
Fremont, CA
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 Central Florida Restaurants, Inc's reported 500 employees, and received an average PPP loan of $130,215, 99% lower than this company's loan of $10M.
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.
Have FederalPay.org's open data tools been valuable? Consider donating!