PPP Loan Data — Clouds Hookah Sports Grill, Lubbock, TX
Clouds Hookah Sports Grill is a limited liability company (LLC) located at 1617 University Ave Unit B in Lubbock, Texas that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.
The company has reported itself as a male owned business, and employed at least two people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Amarillo National Bank
Clouds Hookah Sports Grill in Lubbock, TX received a Paycheck Protection Loan of $25,000 through Amarillo National Bank, which was approved in May, 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 February, 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, Clouds Hookah Sports Grill's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Clouds Hookah Sports Grill reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Clouds Hookah Sports Grill in Lubbock, TX
1617 University Ave Unit B
Lubbock, TX 79401
All Other Amusement and Recreation Industries
NAICS code 713990
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: New Business or 2 years or less
LMI Zone: Y
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 26,511 businesses in the "All Other Amusement and Recreation Industries" industry received a total of $1.46B 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 12 employees, 500% higher than Clouds Hookah Sports Grill's reported 2 employees, and received an average PPP loan of $55,179, 121% higher than this company's loan of $25,000.
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Footnotes & Information
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