PPP Loan Data — Jann Restaurant, Inc, Bloomington, IL
Jann Restaurant, Inc is a corporation located at 301 S Prospect Ave Ste 5 in Bloomington, Illinois that received a Coronavirus-related PPP loan from the SBA of $1,850,000.00 in April, 2020. This business is a McDonalds franchise.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:BMO Harris Bank National Association
Jann Restaurant, Inc in Bloomington, IL received a Paycheck Protection Loan of $1.85M through BMO Harris Bank National Association, which was approved in April, 2020.
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, Jann Restaurant, Inc's 2019 payroll expenses are estimated to be at least $8.88M.
Based on their reported 366 jobs retained, this equals an estimated average yearly compensation of $24,262 per employee1
Reported PPP Proceed Usage:
On the PPP application, Jann Restaurant, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,850,000
Business Information - Jann Restaurant, Inc in Bloomington, IL
301 S Prospect Ave Ste 5
Bloomington, IL 61704
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 Bloomington
In the Bloomington area, 23 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 66 employees (compared to this company's 366) and received an average PPP loan of $286,786 (compared to this company's $1.85M).
Similar Nearby Businesses Who Received PPP Funding:
Randal Bloomigton Wings LLC
Okgo Restaurant Group, LLC
PR Bloomington LLC
Okgo Restaurant Group-Illini, LLC
Ruby Yin, Inc
Okgo Restaurant Group-Levee District LLC
H. A. L., LLC
M 2, LLC
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, 94% lower than Jann Restaurant, Inc's reported 366 employees, and received an average PPP loan of $100,980, 95% lower than this company's loan of $1.85M.
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Footnotes & Information
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