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PPP Loan Data — Four Our Families, Inc,
Tacoma, WA
Four Our Families, Inc
Entity: Subchapter S Corporation
Industry: Full-Service Restaurants
Location: Tacoma, WA
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Four Our Families, Inc is a subchapter s corporation located at Po Box 8087 in Tacoma, Washington that received a Coronavirus-related PPP loan from the SBA of $2,554,900.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 345 people during the applicable loan loan period.
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PPP Loan Information
Loan #7719137110
Loan Size:
Jobs Retained:
345Loan Approved:
2020-04-14Loan Status:
Paid in Full or ForgivenLender:
KeyBank National AssociationFour Our Families, Inc in Tacoma, WA received a Paycheck Protection Loan of $2.55M through KeyBank National Association, 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 July, 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, Four Our Families, Inc's 2019 payroll expenses are estimated to be at least $12.26M.
Based on their reported 345 jobs retained, this equals an estimated average yearly compensation of $35,546 per employee1
Reported PPP Proceed Usage:
On the PPP application, Four Our Families, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,554,900
Business Information - Four Our Families, Inc in Tacoma, WA
Po Box 8087
Tacoma, WA 98419
Business Industry:
Full-Service Restaurants
NAICS code 722511
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Male Owned
Veteran Status: Unreported
Business Demographics
Business Age:
LMI Zone: Y
HUBZone: N
Rural / Urban: Urban
Similar Companies near Tacoma
In the Tacoma area, 13 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 32 employees (compared to this company's 345) and received an average PPP loan of $223,543 (compared to this company's $2.55M).
Similar Nearby Businesses Who Received PPP Funding:
VK - Viet Kitchen - Vietnamese Authentic
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The Nguyen Family Corp
Tacoma, WA
La Patrona Taqueria LLC
Tacoma, WA
Connie's Donuts & Espresso LLC
Tacoma, WA
Lopez Gonzalez Inc
Tacoma, WA
Cysj Inc
Tacoma, WA
KBI Inc DBA Flying Boots & Wings
Tacoma, WA
RMS Lincoln Subway LLC
Tacoma, WA
Industry PPP Comparison Statistics
Nationwide, 326,480 businesses in the "Full-Service Restaurants" industry received a total of $42.51B 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, 94% lower than Four Our Families, Inc's reported 345 employees, and received an average PPP loan of $130,209, 95% lower than this company's loan of $2.55M.
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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