PPP Loan Data — Golden Shabu Shabu Restaurant Inc, Brooklyn, NY
Golden Shabu Shabu Restaurant Inc is a corporation located at 5306 8th Ave in Brooklyn, New York that received a Coronavirus-related PPP loan from the SBA of $24,907.00 in June, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Golden Shabu Shabu Restaurant Inc in Brooklyn, NY received a Paycheck Protection Loan of $24,907 through WebBank, which was approved in June, 2020.
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, Golden Shabu Shabu Restaurant Inc's 2019 payroll expenses are estimated to be at least $119,554.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $23,911 per employee1
Reported PPP Proceed Usage:
On the PPP application, Golden Shabu Shabu Restaurant Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,907
Business Information - Golden Shabu Shabu Restaurant Inc in Brooklyn, NY
5306 8th Ave
Brooklyn, NY 11220
NAICS code 722511
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Brooklyn
In the Brooklyn area, 183 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 10 employees (compared to this company's 5) and received an average PPP loan of $42,382 (compared to this company's $24,907).
Similar Nearby Businesses Who Received PPP Funding:
Miss Dong Burger Inc
LAN Ting Hot Pot, Inc
The Bushwick Ale House Inc
Bay Sushi New York, Inc
Good Taste 88 Inc
Korean House Inc
House Party Cafe & Lounge Inc
East Harbor Manor 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, 340% higher than Golden Shabu Shabu Restaurant Inc's reported 5 employees, and received an average PPP loan of $129,504, 420% higher than this company's loan of $24,907.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!