PPP Loan Data — Cornbread Ventures LLC, Austin, TX
Cornbread Ventures LLC is a partnership located at 5912 Balcones Dr Ste 102 in Austin, Texas that received a Coronavirus-related PPP loan from the SBA of $1,558,923.00 in January, 2021.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:American Bank of Commerce
Cornbread Ventures LLC in Austin, TX received a Paycheck Protection Loan of $1.56M through American Bank of Commerce, which was approved in January, 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, Cornbread Ventures LLC's 2019 payroll expenses are estimated to be at least $7.48M.
Based on their reported 142 jobs retained, this equals an estimated average yearly compensation of $52,696 per employee1
Reported PPP Proceed Usage:
On the PPP application, Cornbread Ventures LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,558,919
- Utilities: $1
Business Information - Cornbread Ventures LLC in Austin, TX
5912 Balcones Dr Ste 102
Austin, TX 78731
NAICS code 722511
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Austin
In the Austin area, 40 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 41 employees (compared to this company's 142) and received an average PPP loan of $266,447 (compared to this company's $1.56M).
Similar Nearby Businesses Who Received PPP Funding:
59 Ventures, Inc
Romriell Enterprises Inc
Long Term Pizza Partners Of Texas LTD
Steiner Steakhouse LLC
Zenith Cafe Corp
Theriot Interests 1 LP
BDT Consulting LLC
The Grackle Atx LLC
K&S Tigon Ventures, LLC
Industry PPP Comparison Statistics
Nationwide, 328,914 businesses in the "Full-Service Restaurants" industry received a total of $42.6B 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, 85% lower than Cornbread Ventures LLC's reported 142 employees, and received an average PPP loan of $129,504, 92% lower than this company's loan of $1.56M.
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Footnotes & Information
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