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PPP Loan Data — Harvest Restaurant Group, LLC,
Morris Plains, NJ
Harvest Restaurant Group, LLC
Entity: Limited Liability Company (LLC)
Industry: Full-Service Restaurants
Location: Morris Plains, NJ
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Harvest Restaurant Group, LLC is a limited liability company (LLC) located at 2230 State Route 10 Ste 2 in Morris Plains, New Jersey that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in February, 2021.
The company has reported itself as a male owned business, and employed at least 100 people during the applicable loan loan period.
$
PPP Loan Information
Loan #2416638506
Loan Size:
Jobs Retained:
100Loan Approved:
2021-02-20Loan Status:
Paid in Full or ForgivenLender:
TD Bank, National AssociationHarvest Restaurant Group, LLC in Morris Plains, NJ received a Paycheck Protection Loan of $2M through TD Bank, National Association, which was approved in February, 2021.
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 January, 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, Harvest Restaurant Group, LLC's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 100 jobs retained, this equals an estimated average yearly compensation of $96,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Harvest Restaurant Group, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,998
- Utilities: $1
Business Information - Harvest Restaurant Group, LLC in Morris Plains, NJ
2230 State Route 10 Ste 2
Morris Plains, NJ 7950
Business Industry:
Full-Service Restaurants
NAICS code 722511
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Male Owned
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 Morris Plains
In the Morris Plains area, 17 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 44 employees (compared to this company's 100) and received an average PPP loan of $531,022 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Dasozem LLC
Morris Plains, NJ
A & B Bagel And Deli III, LLC
Morris Plains, NJ
Carmel Haifa
Morris Plains, NJ
Tabor Pizzeria LLC
Morris Plains, NJ
Fine Pie Incorporated
Morris Plains, NJ
JAI Bhawani Inc
Morris Plains, NJ
Tiffany's Restaurant Inc
Morris Plains, NJ
Nofito LLC
Morris Plains, NJ
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, 78% lower than Harvest Restaurant Group, LLC's reported 100 employees, and received an average PPP loan of $130,196, 93% lower than this company's loan of $2M.
Harvest Restaurant Group, LLC
Entity: Limited Liability Company (LLC)
Industry: Full-Service Restaurants
Location: Morris Plains, NJ
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Harvest Restaurant Group, LLC is a limited liability company (LLC) located at 2230 State Route 10 W Ste 2 in Morris Plains, New Jersey that received a Coronavirus-related PPP loan from the SBA of $5,633,225.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 458 people during the applicable loan loan period.
$
PPP Loan Information
Loan #2774977104
Loan Size:
Jobs Retained:
458Loan Approved:
2020-04-11Loan Status:
Paid in Full or ForgivenLender:
TD Bank, National AssociationHarvest Restaurant Group, LLC in Morris Plains, NJ received a Paycheck Protection Loan of $5.63M through TD Bank, National Association, which was approved in April, 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 September, 2021.
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, Harvest Restaurant Group, LLC's 2019 payroll expenses are estimated to be at least $27.04M.
Based on their reported 458 jobs retained, this equals an estimated average yearly compensation of $59,038 per employee1
Reported PPP Proceed Usage:
On the PPP application, Harvest Restaurant Group, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $5,633,225
Business Information - Harvest Restaurant Group, LLC in Morris Plains, NJ
2230 State Route 10 W Ste 2
Morris Plains, NJ 7950
Business Industry:
Full-Service Restaurants
NAICS code 722511
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Male Owned
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 Morris Plains
In the Morris Plains area, 17 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 44 employees (compared to this company's 458) and received an average PPP loan of $531,022 (compared to this company's $5.63M).
Similar Nearby Businesses Who Received PPP Funding:
Dasozem LLC
Morris Plains, NJ
A & B Bagel And Deli III, LLC
Morris Plains, NJ
Carmel Haifa
Morris Plains, NJ
Tabor Pizzeria LLC
Morris Plains, NJ
Fine Pie Incorporated
Morris Plains, NJ
JAI Bhawani Inc
Morris Plains, NJ
Tiffany's Restaurant Inc
Morris Plains, NJ
Nofito LLC
Morris Plains, NJ
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, 95% lower than Harvest Restaurant Group, LLC's reported 458 employees, and received an average PPP loan of $130,196, 98% lower than this company's loan of $5.63M.
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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