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PPP Loan Data — Global Tapas LLC,
Washington, DC
Global Tapas LLC
Entity: Limited Liability Company (LLC)
Industry: Full-Service Restaurants
Location: Washington, DC
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Global Tapas LLC is a limited liability company (LLC) located at 480 7th St Nw in Washington, District of Columbia that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in February, 2021.
$
PPP Loan Information
Loan #1158458502
Loan Size:
Jobs Retained:
174Loan Approved:
2021-02-18Loan Status:
Ongoing LoanLender:
American Lending CenterGlobal Tapas LLC in Washington, DC received a Paycheck Protection Loan of $2M through American Lending Center, which was approved in February, 2021.
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
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, Global Tapas LLC's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 174 jobs retained, this equals an estimated average yearly compensation of $55,172 per employee1
Reported PPP Proceed Usage:
On the PPP application, Global Tapas LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,994
- Utilities: $1
Business Information - Global Tapas LLC in Washington, DC
480 7th St Nw
Washington, DC 20004
Business Industry:
Full-Service Restaurants
NAICS code 722511
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Washington
In the Washington area, 251 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 34 employees (compared to this company's 174) and received an average PPP loan of $302,272 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Lincoln House Restaurant
Washington, DC
Glass House Coffee Two, LLC
Washington, DC
Roy Boys 2 LLC
Washington, DC
Harlou Inc
Washington, DC
N USA LLC
Washington, DC
Joselito LLC
Washington, DC
District Soul Food Restaurant Lounge
Washington, DC
City Lights Of China Express
Washington, DC
Rasika LLC
Washington, DC
Industry PPP Comparison Statistics
Nationwide, 309,144 businesses in the "Full-Service Restaurants" industry received a total of $40.98B in PPP loans. These businesses account for 3% of total PPP applications submitted, and received 6% of the total PPP funding allocated.
PPP recipients in this industry report an average of 23 employees, 87% lower than Global Tapas LLC's reported 174 employees, and received an average PPP loan of $132,556, 93% lower than this company's loan of $2M.
Global Tapas LLC
Entity: Limited Liability Company (LLC)
Industry: Full-Service Restaurants
Location: Washington, DC
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Global Tapas LLC is a limited liability company (LLC) located at 717 D St, Nw in Washington, District of Columbia that received a Coronavirus-related PPP loan from the SBA of $4,605,194.00 in April, 2020.
$
PPP Loan Information
Loan #8029247007
Loan Size:
Jobs Retained:
500Loan Approved:
2020-04-08Loan Status:
Ongoing LoanLender:
BBVA USAGlobal Tapas LLC in Washington, DC received a Paycheck Protection Loan of $4.61M through BBVA USA, 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
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, Global Tapas LLC's 2019 payroll expenses are estimated to be at least $22.1M.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $44,210 per employee1
Reported PPP Proceed Usage:
On the PPP application, Global Tapas LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $3,453,896
- Utilities: $575,649
- Mortgage Interest: $575,649
Business Information - Global Tapas LLC in Washington, DC
717 D St, Nw
Washington, DC 20004
Business Industry:
Full-Service Restaurants
NAICS code 722511
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Washington
In the Washington area, 251 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 34 employees (compared to this company's 500) and received an average PPP loan of $302,272 (compared to this company's $4.61M).
Similar Nearby Businesses Who Received PPP Funding:
Lincoln House Restaurant
Washington, DC
Glass House Coffee Two, LLC
Washington, DC
Roy Boys 2 LLC
Washington, DC
Harlou Inc
Washington, DC
N USA LLC
Washington, DC
Joselito LLC
Washington, DC
District Soul Food Restaurant Lounge
Washington, DC
City Lights Of China Express
Washington, DC
Rasika LLC
Washington, DC
Industry PPP Comparison Statistics
Nationwide, 309,144 businesses in the "Full-Service Restaurants" industry received a total of $40.98B in PPP loans. These businesses account for 3% of total PPP applications submitted, and received 6% of the total PPP funding allocated.
PPP recipients in this industry report an average of 23 employees, 95% lower than Global Tapas LLC's reported 500 employees, and received an average PPP loan of $132,556, 97% lower than this company's loan of $4.61M.
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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