PPP Loan Data — J N K Restaurants Inc, Fairfield, CA
J N K Restaurants Inc is a corporation located at 704 Tahoe Court in Fairfield, California that received a Coronavirus-related PPP loan from the SBA of $172,200.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Citizens Bank, National Association
J N K Restaurants Inc in Fairfield, CA received a Paycheck Protection Loan of $172,200 through Citizens 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 April, 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 More
Understanding 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 More
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, J N K Restaurants Inc's 2019 payroll expenses are estimated to be at least $826,560.
Based on their reported 41 jobs retained, this equals an estimated average yearly compensation of $20,160 per employee1
Reported PPP Proceed Usage:
On the PPP application, J N K Restaurants Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $172,200
Business Information - J N K Restaurants Inc in Fairfield, CA
704 Tahoe Court
Fairfield, CA 94534
NAICS code 722513
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Fairfield
In the Fairfield area, 47 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 16 employees (compared to this company's 41) and received an average PPP loan of $157,783 (compared to this company's $172,200).
Similar Nearby Businesses Who Received PPP Funding:
Yogurt Delicacies Inc
Stonefield Enterprises Incorporated
Golden State Sourdough Inc
Prtt Nath Inc
Mak's Hop Hing Restaurant Inc
Gmpr Enterprises 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, 49% lower than J N K Restaurants Inc's reported 41 employees, and received an average PPP loan of $100,980, 41% lower than this company's loan of $172,200.
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