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PPP Loan Data — Kava Restaurants LLC,
Chicago, IL
FRANCHISE
ILKava Restaurants LLC
Entity: Limited Liability Company (LLC)
Industry: Limited-Service Restaurants
Franchise: Tim Hortons
Location: Chicago, IL
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Kava Restaurants LLC is a limited liability company (LLC) located at 222 S Riverside Plz Fl 28 in Chicago, Illinois that received a Coronavirus-related PPP loan from the SBA of $986,600.00 in February, 2021. This business is a Tim Hortons franchise.
$ PPP Loan Information Loan #1839048503
Loan Size:
Jobs Retained:
202Loan Approved:
2021-02-19Loan Status:
Ongoing LoanLender:
Osgood State BankKava Restaurants LLC in Chicago, IL received a Paycheck Protection Loan of $986,600 through Osgood State Bank, which was approved in February, 2021.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
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 MoreUnderstanding 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 MoreBased 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, Kava Restaurants LLC's 2019 payroll expenses are estimated to be at least $4.74M.
Based on their reported 202 jobs retained, this equals an estimated average yearly compensation of $23,444 per employee1
Reported PPP Proceed Usage:
On the PPP application, Kava Restaurants LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $986,598
- Utilities: $1
Business Information - Kava Restaurants LLC in Chicago, IL
222 S Riverside Plz Fl 28
Chicago, IL 60606
Business Industry:
Limited-Service Restaurants
NAICS code 722513
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Chicago
In the Chicago area, 156 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 28 employees (compared to this company's 202) and received an average PPP loan of $212,307 (compared to this company's $986,600).
Similar Nearby Businesses Who Received PPP Funding:
ZOE & Yummy Enterprises Inc
Chicago, IL
Theoharis Coffee Company, LLC
Chicago, IL
Wabash Street Development 1 LLC
Chicago, IL
Standard Food Inc
Chicago, IL
Seva Companies Randolph And Wells LLC
Chicago, IL
A&J Creations LLC
Chicago, IL
Gold Coast Foods Inc
Chicago, IL
Jackson Street Development, Inc
Chicago, IL
DU Pak
Chicago, IL
Industry PPP Comparison Statistics
Nationwide, 128,172 businesses in the "Limited-Service Restaurants" industry received a total of $13,481,066,950.00 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 22 employees, 89% lower than Kava Restaurants LLC's reported 202 employees, and received an average PPP loan of $105,180, 89% lower than this company's loan of $986,600.
Kava Restaurants LLC
Entity: Limited Liability Company (LLC)
Industry: Limited-Service Restaurants
Location: Chicago, IL
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Kava Restaurants LLC is a limited liability company (LLC) located at 222 S. Riverside Plaza Suite 2800 in Chicago, Illinois that received a Coronavirus-related PPP loan from the SBA of $3,731,800.00 in April, 2020.
$ PPP Loan Information Loan #5414697103
Loan Size:
Jobs Retained:
500Loan Approved:
2020-04-13Loan Status:
Paid in Full or ForgivenLender:
Osgood State BankKava Restaurants LLC in Chicago, IL received a Paycheck Protection Loan of $3.73M through Osgood State 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 February, 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 MoreUnderstanding 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 MoreBased 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, Kava Restaurants LLC's 2019 payroll expenses are estimated to be at least $17.91M.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $35,825 per employee1
Reported PPP Proceed Usage:
On the PPP application, Kava Restaurants LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $3,731,800
Business Information - Kava Restaurants LLC in Chicago, IL
222 S. Riverside Plaza Suite 2800
Chicago, IL 60606
Business Industry:
Limited-Service Restaurants
NAICS code 722513
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Chicago
In the Chicago area, 156 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 28 employees (compared to this company's 500) and received an average PPP loan of $212,307 (compared to this company's $3.73M).
Similar Nearby Businesses Who Received PPP Funding:
ZOE & Yummy Enterprises Inc
Chicago, IL
Theoharis Coffee Company, LLC
Chicago, IL
Wabash Street Development 1 LLC
Chicago, IL
Standard Food Inc
Chicago, IL
Seva Companies Randolph And Wells LLC
Chicago, IL
A&J Creations LLC
Chicago, IL
Gold Coast Foods Inc
Chicago, IL
Jackson Street Development, Inc
Chicago, IL
DU Pak
Chicago, IL
Industry PPP Comparison Statistics
Nationwide, 128,172 businesses in the "Limited-Service Restaurants" industry received a total of $13,481,066,950.00 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 22 employees, 96% lower than Kava Restaurants LLC's reported 500 employees, and received an average PPP loan of $105,180, 97% lower than this company's loan of $3.73M.
FederalPay's PPP Information Policy
Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.
All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
Footnotes & Information
1. Estimations for informational purposes only. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.
2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.
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