PPP Loan Data — Hong Kong Star Noodle House, Bensalem, PA
Hong Kong Star Noodle House is a subchapter s corporation located at 2852 Street Road in Bensalem, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $25,500.00 in July, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Citizens Bank, National Association
Hong Kong Star Noodle House in Bensalem, PA received a Paycheck Protection Loan of $25,500 through Citizens Bank, National Association, which was approved in July, 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 April, 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, Hong Kong Star Noodle House's 2019 payroll expenses are estimated to be at least $122,400.
Based on their reported 7 jobs retained, this equals an estimated average yearly compensation of $17,486 per employee1
Reported PPP Proceed Usage:
On the PPP application, Hong Kong Star Noodle House reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,500
Business Information - Hong Kong Star Noodle House in Bensalem, PA
2852 Street Road
Bensalem, PA 19020
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 Bensalem
In the Bensalem area, 51 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 26 employees (compared to this company's 7) and received an average PPP loan of $200,918 (compared to this company's $25,500).
Similar Nearby Businesses Who Received PPP Funding:
Tony's King Of Pizza Inc
Wink Realty LLC
Joe Of Neshaminy LLC
Celebrations Plaza, Inc
Shogun Japanese Steakhouse & Sushi Bar Inc
Michaels Family Restaurant III Inc
Fishers Buck Seafood Restaurant Corp
Industry PPP Comparison Statistics
PPP recipients in this industry report an average of 22 employees, 214% higher than Hong Kong Star Noodle House's reported 7 employees, and received an average PPP loan of $129,504, 408% higher than this company's loan of $25,500.
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Footnotes & Information
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