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

PPP Loan Data — Chestnut Land Company, Youngstown, OH

ALERT: There are 2 PPP loans for a total of $5.25M in our database for businesses with the name "Chestnut Land Company" in Youngstown, OH. 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 Chestnut Land Company

FRANCHISE

OH

Chestnut Land Company

Entity: Corporation

Industry: Limited-Service Restaurants

Franchise: Auntie Anne's

Location: Youngstown, OH

Search All PPP Data

Chestnut Land Company is a corporation located at 7629 Market St Ste 200 in Youngstown, Ohio that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in March, 2021. This business is a Auntie Anne's franchise.

The company has reported itself as a male owned business, and employed at least 366 people during the applicable loan loan period.

$ PPP Loan Information
Loan #5286308604

Loan Size:

$2M

Jobs Retained:

366

Loan Approved:

2021-03-20

Loan Status:

Ongoing Loan

Lender:

The Middlefield Banking Company

Chestnut Land Company in Youngstown, OH received a Paycheck Protection Loan of $2M through The Middlefield Banking Company, which was approved in March, 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, Chestnut Land Company's 2019 payroll expenses are estimated to be at least $9.6M.

Based on their reported 366 jobs retained, this equals an estimated average yearly compensation of $26,230 per employee1

Reported PPP Proceed Usage:

On the PPP application, Chestnut Land Company reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,999,998
  • Utilities: $1
Because the loan received by Chestnut Land Company 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 - Chestnut Land Company in Youngstown, OH

Chestnut Land Company
7629 Market St Ste 200
Youngstown, OH 44512

Business Industry:
Limited-Service Restaurants
NAICS code 722513

Business Owner Demographics

Race: Unreported

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: N

Rural / Urban: Urban

Mahoning County, OH — SBA Office 0549 — Congressional District: OH-13

Businesses Using Same Address:

There are 2 other businesses that received a PPP loan registered to the same address as Chestnut Land Company.

Ivory & Birch LLC
All Other Miscellaneous Store Retailers (except Tobacco Stores)

$21,843 PPP Loan

Rise Pies LLC
Full-Service Restaurants

$1.09M PPP Loan

Similar Companies near Youngstown

In the Youngstown area, 39 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 65 employees (compared to this company's 366) and received an average PPP loan of $270,573 (compared to this company's $2M).

Industry PPP Comparison Statistics

Nationwide, 136,560 businesses in the "Limited-Service Restaurants" industry received a total of $13.87B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 2% of the total PPP funding allocated.

PPP recipients in this industry report an average of 21 employees, 94% lower than Chestnut Land Company's reported 366 employees, and received an average PPP loan of $101,544, 95% lower than this company's loan of $2M.

SBA PPP loan data, payroll data, and salaries for Chestnut Land Company

FRANCHISE

OH

Chestnut Land Company

Entity: Corporation

Industry: Limited-Service Restaurants

Franchise: Auntie Anne's

Location: Youngstown, OH

Search All PPP Data

Chestnut Land Company is a corporation located at 7629 Market St Ste 200 in Youngstown, Ohio that received a Coronavirus-related PPP loan from the SBA of $3,245,100.00 in April, 2020. This business is a Auntie Anne's franchise.

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 #6520517006

Loan Size:

$3.25M

Jobs Retained:

500

Loan Approved:

2020-04-07

Loan Status:

Paid in Full or Forgiven

Lender:

The Middlefield Banking Company

Chestnut Land Company in Youngstown, OH received a Paycheck Protection Loan of $3.25M through The Middlefield Banking Company, 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 August, 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 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, Chestnut Land Company's 2019 payroll expenses are estimated to be at least $15.58M.

Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $31,153 per employee1

Reported PPP Proceed Usage:

On the PPP application, Chestnut Land Company reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $3,245,100
Because the loan received by Chestnut Land Company 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 - Chestnut Land Company in Youngstown, OH

Chestnut Land Company
7629 Market St Ste 200
Youngstown, OH 44512

Business Industry:
Limited-Service Restaurants
NAICS code 722513

Business Owner Demographics

Race: Unreported

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: N

Rural / Urban: Urban

Mahoning County, OH — SBA Office 0549 — Congressional District: OH-13

Businesses Using Same Address:

There are 2 other businesses that received a PPP loan registered to the same address as Chestnut Land Company.

Ivory & Birch LLC
All Other Miscellaneous Store Retailers (except Tobacco Stores)

$21,843 PPP Loan

Rise Pies LLC
Full-Service Restaurants

$1.09M PPP Loan

Similar Companies near Youngstown

In the Youngstown area, 39 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 65 employees (compared to this company's 500) and received an average PPP loan of $270,573 (compared to this company's $3.25M).

Industry PPP Comparison Statistics

Nationwide, 136,560 businesses in the "Limited-Service Restaurants" industry received a total of $13.87B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 2% of the total PPP funding allocated.

PPP recipients in this industry report an average of 21 employees, 96% lower than Chestnut Land Company's reported 500 employees, and received an average PPP loan of $101,544, 97% lower than this company's loan of $3.25M.

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/chestnut-land-company-youngstown-oh