PPP Loan Data — Kipco Restaurants LLC, Frankfort, IL
Kipco Restaurants LLC is a limited liability company (LLC) located at 11858 Flagstone Turn in Frankfort, Illinois that received a Coronavirus-related PPP loan from the SBA of $2,351,000.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:PNC Bank, National Association
Kipco Restaurants LLC in Frankfort, IL received a Paycheck Protection Loan of $2.35M through PNC 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, Kipco Restaurants LLC's 2019 payroll expenses are estimated to be at least $11.28M.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $22,570 per employee1
Reported PPP Proceed Usage:
On the PPP application, Kipco Restaurants LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,351,000
Business Information - Kipco Restaurants LLC in Frankfort, IL
11858 Flagstone Turn
Frankfort, IL 60423
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 Frankfort
In the Frankfort area, 29 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 36 employees (compared to this company's 500) and received an average PPP loan of $148,329 (compared to this company's $2.35M).
Similar Nearby Businesses Who Received PPP Funding:
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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, 96% lower than Kipco Restaurants LLC's reported 500 employees, and received an average PPP loan of $100,980, 96% lower than this company's loan of $2.35M.
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Footnotes & Information
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