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PPP Loan Data — Grill Concepts Inc,
Los Angeles, CA
Grill Concepts Inc
Entity: Corporation
Industry: Full-Service Restaurants
Location: Los Angeles, CA
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Grill Concepts Inc is a corporation located at 6171 W Century Blvd Ste 360 in Los Angeles, California that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in April, 2021.
$
PPP Loan Information
Loan #7282438708
Loan Size:
Jobs Retained:
207Loan Approved:
2021-04-06Loan Status:
Charged OffLender:
Bank of America, National AssociationGrill Concepts Inc in Los Angeles, CA received a Paycheck Protection Loan of $2M through Bank of America, National Association, which was approved in April, 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. The loan's status was last updated by the SBA in October, 2022.
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, Grill Concepts Inc's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 207 jobs retained, this equals an estimated average yearly compensation of $46,377 per employee1
Reported PPP Proceed Usage:
On the PPP application, Grill Concepts Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,995
- Utilities: $1
Business Information - Grill Concepts Inc in Los Angeles, CA
6171 W Century Blvd Ste 360
Los Angeles, CA 90045
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 Los Angeles
In the Los Angeles area, 248 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 31 employees (compared to this company's 207) and received an average PPP loan of $254,334 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Comedy Club Oxnard LLC
Los Angeles, CA
SMK Hollywood Lounge LLC
West Hollywood, CA
Sunset Cantina LLC
West Hollywood, CA
Gift Los Angeles LLC
Los Angeles, CA
7156 Formosa, LLC
West Hollywood, CA
LN2 Restaurant Group
Loa Angeles, CA
Red River Enterprises LLC
Los Angeles, CA
Lala's On Melrose, Inc
Los Angeles, CA
Laura Lueth
Los Angeles, CA
Industry PPP Comparison Statistics
Nationwide, 326,413 businesses in the "Full-Service Restaurants" industry received a total of $42.5B 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, 89% lower than Grill Concepts Inc's reported 207 employees, and received an average PPP loan of $130,196, 93% lower than this company's loan of $2M.
Grill Concepts Inc
Entity: Subchapter S Corporation
Industry: Full-Service Restaurants
Location: Los Angeles, CA
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Grill Concepts Inc is a subchapter s corporation located at 6171 W Century Blvd Ste 360 in Los Angeles, California that received a Coronavirus-related PPP loan from the SBA of $10,000,000.00 in April, 2020.
$
PPP Loan Information
Loan #6884577101
Loan Size:
Jobs Retained:
500Loan Approved:
2020-04-14Loan Status:
Ongoing LoanLender:
Bank of America, National AssociationGrill Concepts Inc in Los Angeles, CA received a Paycheck Protection Loan of $10M through Bank of America, National Association, 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, Grill Concepts Inc's 2019 payroll expenses are estimated to be at least $48M.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $96,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Grill Concepts Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $10,000,000
Business Information - Grill Concepts Inc in Los Angeles, CA
6171 W Century Blvd Ste 360
Los Angeles, CA 90045
Business Industry:
Full-Service Restaurants
NAICS code 722511
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age:
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Los Angeles
In the Los Angeles area, 248 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 31 employees (compared to this company's 500) and received an average PPP loan of $254,334 (compared to this company's $10M).
Similar Nearby Businesses Who Received PPP Funding:
Comedy Club Oxnard LLC
Los Angeles, CA
SMK Hollywood Lounge LLC
West Hollywood, CA
Sunset Cantina LLC
West Hollywood, CA
Gift Los Angeles LLC
Los Angeles, CA
7156 Formosa, LLC
West Hollywood, CA
LN2 Restaurant Group
Loa Angeles, CA
Red River Enterprises LLC
Los Angeles, CA
Lala's On Melrose, Inc
Los Angeles, CA
Laura Lueth
Los Angeles, CA
Industry PPP Comparison Statistics
Nationwide, 326,413 businesses in the "Full-Service Restaurants" industry received a total of $42.5B 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 Grill Concepts Inc's reported 500 employees, and received an average PPP loan of $130,196, 99% lower than this company's loan of $10M.
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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