PPP Loan Data — Dave's Place, Kenmare, ND
Dave's Place is a sole proprietorship located at 50401 Hwy 52 N in Kenmare, North Dakota that received a Coronavirus-related PPP loan from the SBA of $24,900.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least four people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:State Bank & Trust of Kenmare
Dave's Place in Kenmare, ND received a Paycheck Protection Loan of $24,900 through State Bank & Trust of Kenmare, 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 November, 2020.
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, Dave's Place's 2019 payroll expenses are estimated to be at least $119,520.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $29,880 per employee1
Reported PPP Proceed Usage:
On the PPP application, Dave's Place reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,900
Business Information - Dave's Place in Kenmare, ND
50401 Hwy 52 N
Kenmare, ND 58746
NAICS code 722511
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Kenmare
In the Kenmare area, 5 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 6 employees (compared to this company's 4) and received an average PPP loan of $22,092 (compared to this company's $24,900).
Similar Nearby Businesses Who Received PPP Funding:
Cookies & Confections, Inc
Gathering Grounds, LLC
C Half Circle X
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, 450% higher than Dave's Place's reported 4 employees, and received an average PPP loan of $129,504, 420% higher than this company's loan of $24,900.
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Footnotes & Information
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