PPP Loan Data — Happy Cinco De Mayo LLC, Asheville, NC
Happy Cinco De Mayo LLC is a limited liability company (LLC) located at 800 Fairview Rd Ste C5 in Asheville, North Carolina that received a Coronavirus-related PPP loan from the SBA of $24,903.00 in May, 2020.
The company has reported itself as a White female owned business, and employed at least fourteen people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bank of America, National Association
Happy Cinco De Mayo LLC in Asheville, NC received a Paycheck Protection Loan of $24,903 through Bank of America, National Association, which was approved in May, 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 March, 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, Happy Cinco De Mayo LLC's 2019 payroll expenses are estimated to be at least $119,534.
Based on their reported 14 jobs retained, this equals an estimated average yearly compensation of $8,538 per employee1
Reported PPP Proceed Usage:
On the PPP application, Happy Cinco De Mayo LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,903
Business Information - Happy Cinco De Mayo LLC in Asheville, NC
800 Fairview Rd Ste C5
Asheville, NC 28803
NAICS code 722511
Business Owner Demographics
Ethnicity: Hispanic or Latino
Gender: Female Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Asheville
In the Asheville area, 84 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 24 employees (compared to this company's 14) and received an average PPP loan of $145,484 (compared to this company's $24,903).
Similar Nearby Businesses Who Received PPP Funding:
AY Caramba Mexican Grill & Bar Inc
The Village Wayside LLC
Good Luck Three
131 Main Biltmore LLC
La Carreta Triple A Inc
Westmoreland & Scully LLC
Asiana Grand Buffet LLC
High Place Ventures, Inc
Chupacabra Restaurant Group, LLC
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, 57% higher than Happy Cinco De Mayo LLC's reported 14 employees, and received an average PPP loan of $129,504, 420% higher than this company's loan of $24,903.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!