PPP Loan Data — Crystal Thai Foods Corp, Brooklyn, NY
Crystal Thai Foods Corp is a corporation located at 293 Flatbush Ave in Brooklyn, New York that received a Coronavirus-related PPP loan from the SBA of $46,802.00 in January, 2021.
The company has reported itself as an Asian male owned business, and employed at least eleven people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:JPMorgan Chase Bank, National Association
Crystal Thai Foods Corp in Brooklyn, NY received a Paycheck Protection Loan of $46,802 through JPMorgan Chase Bank, National Association, which was approved in January, 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
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, Crystal Thai Foods Corp's 2019 payroll expenses are estimated to be at least $224,650.
Based on their reported 11 jobs retained, this equals an estimated average yearly compensation of $20,423 per employee1
Reported PPP Proceed Usage:
On the PPP application, Crystal Thai Foods Corp reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,797
- Utilities: $1
Business Information - Crystal Thai Foods Corp in Brooklyn, NY
293 Flatbush Ave
Brooklyn, NY 11217
NAICS code 722511
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Brooklyn
In the Brooklyn area, 256 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 13 employees (compared to this company's 11) and received an average PPP loan of $93,870 (compared to this company's $46,802).
Similar Nearby Businesses Who Received PPP Funding:
Kiku 88 Inc
Shahab Enterprises Inc
Sakura Tokyo NYC Inc
Los Mariachis Restaurant Inc
Wild Living LLC
PK Cafe 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, 100% higher than Crystal Thai Foods Corp's reported 11 employees, and received an average PPP loan of $129,504, 177% higher than this company's loan of $46,802.
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Footnotes & Information
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