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PPP Loan Data — Howl USA LLC,
Chicago, IL
Howl USA LLC
Entity: Limited Liability Company (LLC)
Industry: Full-Service Restaurants
Location: Chicago, IL
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Howl USA LLC is a limited liability company (LLC) located at 30 W Hubbard St Ste 200 in Chicago, Illinois that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in March, 2021.
$
PPP Loan Information
Loan #2333698605
Loan Size:
Jobs Retained:
229Loan Approved:
2021-03-15Loan Status:
Paid in Full or ForgivenLender:
Old Second National BankHowl USA LLC in Chicago, IL received a Paycheck Protection Loan of $2M through Old Second National Bank, which was approved in March, 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 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, Howl USA LLC's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 229 jobs retained, this equals an estimated average yearly compensation of $41,921 per employee1
Reported PPP Proceed Usage:
On the PPP application, Howl USA LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,997
- Utilities: $1
Business Information - Howl USA LLC in Chicago, IL
30 W Hubbard St Ste 200
Chicago, IL 60654
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 Chicago
In the Chicago area, 205 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 42 employees (compared to this company's 229) and received an average PPP loan of $338,449 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Demika Carswell
Chicago, IL
La Fiesta Inc
Chicago, IL
Piccolo Sogno Due LLC
Chicago, IL
Cork City Productions, LLC
Chicago, IL
Kinzie Restaurant Limited Partnership
Chicago, IL
Stoioff Capital Inc
Chicago, IL
Rudu Enterprises Inc
Chicago, IL
29 West Hubbard Street Corp
Chicago, IL
Lunan Corporation
Chicago, IL
Industry PPP Comparison Statistics
Nationwide, 326,480 businesses in the "Full-Service Restaurants" industry received a total of $42.51B 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, 90% lower than Howl USA LLC's reported 229 employees, and received an average PPP loan of $130,209, 93% lower than this company's loan of $2M.
Howl USA, LLC
Entity: Limited Liability Company (LLC)
Industry: Drinking Places (Alcoholic Beverages)
Location: Chicago, IL
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Howl USA, LLC is a limited liability company (LLC) located at 30 W. Hubbard St in Chicago, Illinois that received a Coronavirus-related PPP loan from the SBA of $3,429,500.00 in April, 2020.
$
PPP Loan Information
Loan #1394787110
Loan Size:
Jobs Retained:
489Loan Approved:
2020-04-10Loan Status:
Paid in Full or ForgivenLender:
Old Second National BankHowl USA, LLC in Chicago, IL received a Paycheck Protection Loan of $3.43M through Old Second National Bank, 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 June, 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, Howl USA, LLC's 2019 payroll expenses are estimated to be at least $16.46M.
Based on their reported 489 jobs retained, this equals an estimated average yearly compensation of $33,664 per employee1
Reported PPP Proceed Usage:
On the PPP application, Howl USA, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,594,579
- Utilities: $126,939
- Mortgage Interest: $16,000
- Rent: $691,982
Business Information - Howl USA, LLC in Chicago, IL
30 W. Hubbard St
Chicago, IL 60654
Business Industry:
Drinking Places (Alcoholic Beverages)
NAICS code 722410
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 Chicago
In the Chicago area, 51 businesses in the "Drinking Places (Alcoholic Beverages)" industry received a PPP loan. These local businesses reported an average of 42 employees (compared to this company's 489) and received an average PPP loan of $210,262 (compared to this company's $3.43M).
Similar Nearby Businesses Who Received PPP Funding:
Downtown Entertainment Management, Inc
Chicago, Il, IL
Stop & Drink, Inc
Chicago, IL
Shamrock Club Inc
Chicago, IL
Lawlors On 111Th
Chicago, IL
Truth Chicago LLC
Chicago, IL
Bella Vista Gallery Inc
Chicago, IL
The Comedy Bar Comedy Club, LLC
Chicago, IL
Pops For Champagne LTD., LLC
Chicago, IL
Lodge Management Corporation
Chicago, IL
Industry PPP Comparison Statistics
Nationwide, 46,392 businesses in the "Drinking Places (Alcoholic Beverages)" industry received a total of $2.8B in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 12 employees, 98% lower than Howl USA, LLC's reported 489 employees, and received an average PPP loan of $60,256, 98% lower than this company's loan of $3.43M.
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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