PPP Loan Data — G & T Restaurant, LLC, Mansfield, OH
G & T Restaurant, LLC is a limited liability company (LLC) located at 41 Main St in Mansfield, Ohio that received a Coronavirus-related PPP loan from the SBA of $24,887.00 in July, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
G & T Restaurant, LLC in Mansfield, OH received a Paycheck Protection Loan of $24,887 through Mechanics Bank, which was approved in July, 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 February, 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, G & T Restaurant, LLC's 2019 payroll expenses are estimated to be at least $119,458.
Based on their reported 11 jobs retained, this equals an estimated average yearly compensation of $10,860 per employee1
Reported PPP Proceed Usage:
On the PPP application, G & T Restaurant, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,887
Business Information - G & T Restaurant, LLC in Mansfield, OH
41 Main St
Mansfield, OH 44902
NAICS code 722511
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: Y
Rural / Urban: Rural
Similar Companies near Mansfield
In the Mansfield area, 28 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 18 employees (compared to this company's 11) and received an average PPP loan of $73,735 (compared to this company's $24,887).
Similar Nearby Businesses Who Received PPP Funding:
Skyway East LTD
Cypress Hill Winery LLC
Andrew T. Mcintrye DBA Two Cousins Pizza
Bogey Free LLC
Richland Skyline Management Inc
Boardwalk Foods, Inc
Skyway East Limited
World Famous Coney I , 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, 100% higher than G & T Restaurant, LLC's reported 11 employees, and received an average PPP loan of $129,504, 420% higher than this company's loan of $24,887.
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Footnotes & Information
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