PPP Loan Data — Favorite Indian Restaurant, Hayward, CA
Favorite Indian Restaurant is a corporation located at 24052 Mission Blvd in Hayward, California that received a Coronavirus-related PPP loan from the SBA of $25,395.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Favorite Indian Restaurant in Hayward, CA received a Paycheck Protection Loan of $25,395 through WebBank, which was approved in May, 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, Favorite Indian Restaurant's 2019 payroll expenses are estimated to be at least $121,896.
Based on their reported 15 jobs retained, this equals an estimated average yearly compensation of $8,126 per employee1
Reported PPP Proceed Usage:
On the PPP application, Favorite Indian Restaurant reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,395
Business Information - Favorite Indian Restaurant in Hayward, CA
24052 Mission Blvd
Hayward, CA 94544
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 Hayward
In the Hayward area, 70 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 10 employees (compared to this company's 15) and received an average PPP loan of $74,083 (compared to this company's $25,395).
Similar Nearby Businesses Who Received PPP Funding:
Tomodachi Sushi Bistro, Inc
Los Dos Hermanos Restaurant
BAS Foods Inc
JU Ren Inc
Tamales Los Mayas, LLC
TAS Connections 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, 47% higher than Favorite Indian Restaurant's reported 15 employees, and received an average PPP loan of $129,504, 410% higher than this company's loan of $25,395.
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