PPP Loan Data — Espresso Monkeys Incorporated, Minneapolis, MN
Espresso Monkeys Incorporated is a corporation located at 329 Cedar Ave S in Minneapolis, Minnesota that received a Coronavirus-related PPP loan from the SBA of $46,300.00 in April, 2020.
The company has reported itself as a White female owned business, and employed at least eleven people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Sunrise Banks, National Association
Espresso Monkeys Incorporated in Minneapolis, MN received a Paycheck Protection Loan of $46,300 through Sunrise Banks, National Association, which was approved in April, 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, Espresso Monkeys Incorporated's 2019 payroll expenses are estimated to be at least $222,240.
Based on their reported 11 jobs retained, this equals an estimated average yearly compensation of $20,204 per employee1
Reported PPP Proceed Usage:
On the PPP application, Espresso Monkeys Incorporated reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,300
Business Information - Espresso Monkeys Incorporated in Minneapolis, MN
329 Cedar Ave S
Minneapolis, MN 55454
NAICS code 722511
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Minneapolis
In the Minneapolis area, 19 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 36 employees (compared to this company's 11) and received an average PPP loan of $246,851 (compared to this company's $46,300).
Similar Nearby Businesses Who Received PPP Funding:
SB Food Services, Inc
TAP & Pony LLC
Star Investments Inc
Flamin Thai LLC
Baarakallah Restaurant Inc
Dilla Ethiopian Bar And Restaurant
Lucky Dragon Riverside Restaurant
Town Hall Brewery, LLLP
Dilla Bar And Restaurant Inc
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 Espresso Monkeys Incorporated's reported 11 employees, and received an average PPP loan of $129,504, 180% higher than this company's loan of $46,300.
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