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PPP Loan Data — Freeze West Jordan, LLC,
West Jordan, UT
FRANCHISE
UTFreeze West Jordan, LLC
Entity: Limited Liability Company (LLC)
Industry: Limited-Service Restaurants
Franchise: Dairy Queen of Utah, Inc. - DQ Grill & Chill Operating Agreement
Location: West Jordan, UT
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Freeze West Jordan, LLC is a limited liability company (LLC) located at 7872 S Redwood Rd in West Jordan, Utah that received a Coronavirus-related PPP loan from the SBA of $39,500.00 in April, 2020. This business is a Dairy Queen of Utah, Inc. - DQ Grill & Chill Operating Agreement franchise.
$
PPP Loan Information
Loan #4952097005
Loan Size:
Jobs Retained:
20Loan Approved:
2020-04-04Loan Status:
Paid in Full or ForgivenLender:
Celtic Bank CorporationFreeze West Jordan, LLC in West Jordan, UT received a Paycheck Protection Loan of $39,500 through Celtic Bank Corporation, 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 September, 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, Freeze West Jordan, LLC's 2019 payroll expenses are estimated to be at least $189,600.
Based on their reported 20 jobs retained, this equals an estimated average yearly compensation of $9,480 per employee1
Reported PPP Proceed Usage:
On the PPP application, Freeze West Jordan, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $29,625
- Utilities: $4,938
- Rent: $4,938
Business Information - Freeze West Jordan, LLC in West Jordan, UT
7872 S Redwood Rd
West Jordan, UT 84088
Business Industry:
Limited-Service Restaurants
NAICS code 722513
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: New Business or 2 years or less
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near West Jordan
In the West Jordan area, 13 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 92 employees (compared to this company's 20) and received an average PPP loan of $751,814 (compared to this company's $39,500).
Similar Nearby Businesses Who Received PPP Funding:
SDI, West Jordan, Ut, LLC
West Jordan, UT
Lasalo Purcell
West Bountiful, UT
Arctic Circle Restaurants, Inc
West Jordan, UT
Riley's Sandwich & Shake Shope
West Jordan, UT
Hungry Hawaiian, LLC
Woods Cross, UT
Vegan Bowl LLC
West Jordan, UT
New Thai Cafe LLC
West Jordan, UT
Sexy Pizza LLC
West Jordan, UT
Industry PPP Comparison Statistics
Nationwide, 136,511 businesses in the "Limited-Service Restaurants" industry received a total of $13.86B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 21 employees, 5% higher than Freeze West Jordan, LLC's reported 20 employees, and received an average PPP loan of $101,497, 157% higher than this company's loan of $39,500.
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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