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PPP Loan Data — Gmrg Acq 1 LLC, Overland Park, KS

SBA PPP loan data, payroll data, and salaries for Gmrg Acq 1 LLC
KS

Gmrg Acq 1 LLC

Entity: Limited Liability Company (LLC)

Industry: Limited-Service Restaurants

Location: Overland Park, KS

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Gmrg Acq 1 LLC is a limited liability company (LLC) located at 10880 Benson Drive Suite 2320 in Overland Park, Kansas that received a Coronavirus-related PPP loan from the SBA of $9,509,411.00 in April, 2020.

The company has reported itself as a White male owned business, and employed at least 500 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$9.51M

Jobs Retained:

500

Loan Approved:

2020-04-07

Lender:

THE HUNTINGTON NATIONAL BANK

Gmrg Acq 1 LLC received a Paycheck Protection Loan of $9.51M through THE HUNTINGTON NATIONAL BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Gmrg Acq 1 LLC's total 2019 payroll expenses were approximately $45.65M in order to qualify for the PPP loan amount received.

Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $91,290 per employee1.

Because the loan received by Gmrg Acq 1 LLC is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Gmrg Acq 1 LLC in Overland Park, KS

Gmrg Acq 1 LLC
10880 Benson Drive Suite 2320
Overland Park, KS 66210

Business Industry

Limited-Service Restaurants (NAICS code 722513)

Business Owner Demographics

Race / Ethnicity: WHITE

Gender: MALE OWNED

Veteran Status: NON-VETERAN

Congressional District: KS-03

Similar Companies near Overland Park

In the Overland Park area, 15 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 94 employees (compared to this company's 500) and received an average PPP loan of $912,069 (compared to this company's $9.51M).

Industry PPP Comparison Statistics

Nationwide, 79,996 businesses in the "Limited-Service Restaurants" industry received a total of $9,671,819,152.00 in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 2% of the total PPP funding allocated.

PPP recipients in this industry report an average of 23 employees, 95% lower than Gmrg Acq 1 LLC's reported 500 employees, and received an average PPP loan of $120,904, 99% lower than this company's loan of $9.51M.

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.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. 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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/gmrg-acq-1-llc-overland-park-ks