PPP Loan Data — Future Restaurants LLC, Brentwood, TN
Future Restaurants LLC is a limited liability company (LLC) located at 1728 General George Patton Dr Suite 200 in Brentwood, Tennessee that received a Coronavirus-related PPP loan from the SBA of $2,189,605.00 in April, 2020. This business is a Taco Bell franchise.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:First Freedom Bank
Future Restaurants LLC in Brentwood, TN received a Paycheck Protection Loan of $2.19M through First Freedom Bank, which was approved in April, 2020.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
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, Future Restaurants LLC's 2019 payroll expenses are estimated to be at least $10.51M.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $21,020 per employee1
Reported PPP Proceed Usage:
On the PPP application, Future Restaurants LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,642,203
- Rent: $547,401
Business Information - Future Restaurants LLC in Brentwood, TN
1728 General George Patton Dr Suite 200
Brentwood, TN 37027
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 Brentwood
In the Brentwood area, 80 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 500) and received an average PPP loan of $196,966 (compared to this company's $2.19M).
Similar Nearby Businesses Who Received PPP Funding:
Bumpus Meals Diner
Bumpus Mills, TN
Bar-B-Cutie Drive-In, Inc
Mazatlan Mexican Restaurant, Inc
Angie Winans Motown Grille 2
Vittles Of Brentwood, LLC
Bellevue Pizza Inc
MAC Smoothie 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, 96% lower than Future Restaurants LLC's reported 500 employees, and received an average PPP loan of $129,504, 94% lower than this company's loan of $2.19M.
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Footnotes & Information
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