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PPP Loan Data — Debolt Enterprises Mv LLC,
Mount Vernon, IL
FRANCHISE
ILDebolt Enterprises Mv LLC
Entity: Subchapter S Corporation
Industry: Full-Service Restaurants
Franchise: Culver's ButterBurgers & Frozen Custard
Location: Mount Vernon, IL
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Debolt Enterprises Mv LLC is a subchapter s corporation located at 1405 South 42nd Street in Mount Vernon, Illinois that received a Coronavirus-related PPP loan from the SBA of $136,900.00 in April, 2020. This business is a Culver's ButterBurgers & Frozen Custard franchise.
The company has reported itself as a White male owned business, and employed at least 42 people during the applicable loan loan period.
$
PPP Loan Information
Loan #6726167003
Loan Size:
Jobs Retained:
42Loan Approved:
2020-04-07Loan Status:
Paid in Full or ForgivenLender:
Community First Bank of the HeartlandDebolt Enterprises Mv LLC in Mount Vernon, IL received a Paycheck Protection Loan of $136,900 through Community First Bank of the Heartland, 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 May, 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 MoreUnderstanding 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 MoreBased 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, Debolt Enterprises Mv LLC's 2019 payroll expenses are estimated to be at least $657,120.
Based on their reported 42 jobs retained, this equals an estimated average yearly compensation of $15,646 per employee1
Reported PPP Proceed Usage:
On the PPP application, Debolt Enterprises Mv LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $136,900
Business Information - Debolt Enterprises Mv LLC in Mount Vernon, IL
1405 South 42nd Street
Mount Vernon, IL 62864
Business Industry:
Full-Service Restaurants
NAICS code 722511
Business Owner Demographics
Race: White
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: Rural
Similar Companies near Mount Vernon
In the Mount Vernon area, 34 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 21 employees (compared to this company's 42) and received an average PPP loan of $72,559 (compared to this company's $136,900).
Similar Nearby Businesses Who Received PPP Funding:
Brittany Pistono
Mount Vernon, IL
Jeremy Sneed
Mount Vernon, IL
Joe's Pizza Of MT. Vernon, Inc
Mount Vernon, IL
ISJ Tequilas, Inc
Mt Carmel, IL
Chips N Cheese LLC
Mount Vernon, IL
Agave 1 Inc
Mount Vernon, IL
Farmhouse Bakery And Cafe, LLC
Mount Vernon, IL
New Asian Buffet Inc
Mount Vernon, IL
Daniel Horner
Mount Vernon, IL
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, 48% lower than Debolt Enterprises Mv LLC's reported 42 employees, and received an average PPP loan of $129,504, 5% lower than this company's loan of $136,900.
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.
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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