PPP Loan Data — Italian Pizzeria Restaurant, Durham, NC
Italian Pizzeria Restaurant is a sole proprietorship located at 3823 Guess Rd Ste X in Durham, North Carolina that received a Coronavirus-related PPP loan from the SBA of $45,894.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bank of America, National Association
Italian Pizzeria Restaurant in Durham, NC received a Paycheck Protection Loan of $45,894 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 June, 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, Italian Pizzeria Restaurant's 2019 payroll expenses are estimated to be at least $220,291.
Based on their reported 11 jobs retained, this equals an estimated average yearly compensation of $20,026 per employee1
Reported PPP Proceed Usage:
On the PPP application, Italian Pizzeria Restaurant reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $45,894
Business Information - Italian Pizzeria Restaurant in Durham, NC
3823 Guess Rd Ste X
Durham, NC 27705
NAICS code 722513
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Durham
In the Durham area, 35 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 22 employees (compared to this company's 11) and received an average PPP loan of $95,216 (compared to this company's $45,894).
Similar Nearby Businesses Who Received PPP Funding:
Real Food Durham
Epec Juice LLC
RBS Subs Inc
Monds Ventures LLC
Potharam 367 Inc
Hillsborough Subs, Inc
Industry PPP Comparison Statistics
Nationwide, 137,629 businesses in the "Limited-Service Restaurants" industry received a total of $13.9B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 21 employees, 91% higher than Italian Pizzeria Restaurant's reported 11 employees, and received an average PPP loan of $100,980, 120% higher than this company's loan of $45,894.
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Footnotes & Information
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