PPP Loan Data — Juan Lopez DBA La Esquina Del Sabor Restaurant, Lawrence, MA
Juan Lopez DBA La Esquina Del Sabor Restaurant is a sole proprietorship located at 39 Manchester St in Lawrence, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $25,092.00 in April, 2020.
The company has reported itself as a Black or african american male owned business, and employed at least five people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Juan Lopez DBA La Esquina Del Sabor Restaurant in Lawrence, MA received a Paycheck Protection Loan of $25,092 through Eastern 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 May, 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, Juan Lopez DBA La Esquina Del Sabor Restaurant's 2019 payroll expenses are estimated to be at least $120,442.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $24,088 per employee1
Reported PPP Proceed Usage:
On the PPP application, Juan Lopez DBA La Esquina Del Sabor Restaurant reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,092
Business Information - Juan Lopez DBA La Esquina Del Sabor Restaurant in Lawrence, MA
39 Manchester St
Lawrence, MA 1841
NAICS code 722511
Business Owner Demographics
Race: Black or African American
Ethnicity: Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: New Business or 2 years or less
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Lawrence
In the Lawrence area, 53 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 8 employees (compared to this company's 5) and received an average PPP loan of $38,551 (compared to this company's $25,092).
Similar Nearby Businesses Who Received PPP Funding:
Joy Empanadas Inc
Nutra Serve, Inc
Grumpy Grande Corporation
Carlos Osiris Suarez Tejada
La Bahia Restaurant Inc
Cafe Azteca Inc
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, 340% higher than Juan Lopez DBA La Esquina Del Sabor Restaurant's reported 5 employees, and received an average PPP loan of $129,504, 416% higher than this company's loan of $25,092.
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Footnotes & Information
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