PPP Loan Data — Frameshift Art Cafe, LLC, Madison, WI
Frameshift Art Cafe, LLC is a limited liability company (LLC) located at 2662 Winnebago in Madison, Wisconsin that received a Coronavirus-related PPP loan from the SBA of $47,000.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least ten people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Frameshift Art Cafe, LLC in Madison, WI received a Paycheck Protection Loan of $47,000 through Monona Bank, 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 April, 2021.
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, Frameshift Art Cafe, LLC's 2019 payroll expenses are estimated to be at least $225,600.
Based on their reported 10 jobs retained, this equals an estimated average yearly compensation of $22,560 per employee1
Reported PPP Proceed Usage:
On the PPP application, Frameshift Art Cafe, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $47,000
Business Information - Frameshift Art Cafe, LLC in Madison, WI
Madison, WI 53704
NAICS code 722511
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: New Business or 2 years or less
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Madison
In the Madison area, 266 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 26 employees (compared to this company's 10) and received an average PPP loan of $160,863 (compared to this company's $47,000).
Similar Nearby Businesses Who Received PPP Funding:
Yahara Inn LTD
Dlux Of Madison LLC
Madison 1255, Inc
Short Stack Eatery, LLC
La Pepe, Inc
Pizza Di Roma
Maharani Indian Restaurant
LAO Laan-Xang II, 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, 120% higher than Frameshift Art Cafe, LLC's reported 10 employees, and received an average PPP loan of $129,504, 176% higher than this company's loan of $47,000.
FederalPay's PPP Information Policy
Footnotes & Information
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