PPP Loan Data — Checkered Flag Concessions, Knoxville, IA
Checkered Flag Concessions is a limited liability company (LLC) located at 1000 Lincoln St N in Knoxville, Iowa that received a Coronavirus-related PPP loan from the SBA of $45,947.00 in July, 2020.
The company has reported itself as a female owned business, and employed at least ten people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:U.S. Bank, National Association
Checkered Flag Concessions in Knoxville, IA received a Paycheck Protection Loan of $45,947 through U.S. Bank, National Association, which was approved in July, 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 June, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
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, Checkered Flag Concessions' 2019 payroll expenses are estimated to be at least $220,546.
Based on their reported 10 jobs retained, this equals an estimated average yearly compensation of $22,055 per employee1
Reported PPP Proceed Usage:
On the PPP application, Checkered Flag Concessions reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $45,947
Business Information - Checkered Flag Concessions in Knoxville, IA
1000 Lincoln St N
Knoxville, IA 50138
Food Service Contractors
NAICS code 722310
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 38,610 businesses in the "Food Service Contractors" industry received a total of $2.01B in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 6 employees, 40% lower than Checkered Flag Concessions' reported 10 employees, and received an average PPP loan of $52,102, 13% higher than this company's loan of $45,947.
FederalPay's PPP Information Policy
Footnotes & Information
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