PPP Loan Data — Joe's Of DC LLC, Chicago, IL
Joe's Of DC LLC is a limited liability company (LLC) located at 5419 N Sheridan Suite 108 in Chicago, Illinois that received a Coronavirus-related PPP loan from the SBA of $1,964,091.00 in June, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Wintrust Bank, National Association
Joe's Of DC LLC in Chicago, IL received a Paycheck Protection Loan of $1.96M through Wintrust Bank, National Association, which was approved in June, 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, Joe's Of DC LLC's 2019 payroll expenses are estimated to be at least $9.43M.
Based on their reported 174 jobs retained, this equals an estimated average yearly compensation of $54,182 per employee1
Reported PPP Proceed Usage:
On the PPP application, Joe's Of DC LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,764,091
- Utilities: $100,000
- Mortgage Interest: $100,000
Business Information - Joe's Of DC LLC in Chicago, IL
5419 N Sheridan Suite 108
Chicago, IL 60640
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 Chicago
In the Chicago area, 251 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 33 employees (compared to this company's 174) and received an average PPP loan of $271,887 (compared to this company's $1.96M).
Similar Nearby Businesses Who Received PPP Funding:
Thai Manee Inc
Kanela VI LLC
Lightning Bug Of Chicago Inc - Lab1976
Silver's T. L. D. L., Inc
Bongo Room III Inc
Brass Duck Hospitality Group LLC
Cousins & Assoc
Industry PPP Comparison Statistics
Nationwide, 328,914 businesses in the "Full-Service Restaurants" industry received a total of $42.6B 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, 87% lower than Joe's Of DC LLC's reported 174 employees, and received an average PPP loan of $129,504, 93% lower than this company's loan of $1.96M.
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Footnotes & Information
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