PPP Loan Data — Kndrs LLC, American Fork, UT

Kndrs LLC

Entity: Limited Liability Company (LLC)

Industry: Limited-Service Restaurants

Location: American Fork, UT

Kndrs LLC is a limited liability company (LLC) located at 971 South Automall Drive in American Fork, Utah that received a Coronavirus-related PPP loan from the SBA of $6,686,200.00 in April, 2020.

The company has reported itself as a White male owned business, and employed at least 500 people during the applicable loan loan period.

$ PPP Loan Information
Loan #3463927108

Loan Size:

$6.69M

Jobs Retained:

500

Loan Approved:

2020-04-11

Loan Status:

Paid in Full or Forgiven

Lender:

Community Banks of Colorado, A Division of

Kndrs LLC in American Fork, UT received a Paycheck Protection Loan of $6.69M through Community Banks of Colorado, A Division of, 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 June, 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.

Understanding 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.

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, Kndrs LLC's 2019 payroll expenses are estimated to be at least $32.09M.

Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $64,188 per employee¹

Reported PPP Proceed Usage:

On the PPP application, Kndrs LLC reported intending to use the proceeds of their PPP loan for the following expenses:

Payroll: $6,686,200

Because the loan received by Kndrs LLC is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Kndrs LLC in American Fork, UT

Kndrs LLC
971 South Automall Drive
American Fork, UT 84003

Business Industry:
Limited-Service Restaurants
NAICS code 722513

Business Owner Demographics

Race: White

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Utah County, UT — SBA Office 0883 — Congressional District: UT-03

Similar Companies near American Fork

In the American Fork area, 26 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 500) and received an average PPP loan of $451,071 (compared to this company's $6.69M).

Similar Nearby Businesses Who Received PPP Funding:

Gandolfos Af Inc
American Fork, UT

$73,400 PPP Loan

Blue Lemon City Creek LLC
Highland, UT

$170,100 PPP Loan

Cubby's, LLC
American Fork, UT

$1.07M PPP Loan

SDI, American Fork, Ut, LLC
American Fork, UT

$62,200 PPP Loan

Blue Lemon Farmington LLC
Highland, UT

$99,417 PPP Loan

Hive Industries Inc
American Fork, UT

$449,978 PPP Loan

Fong Asian Dinning Pleasant Glove LLC
American Fork, UT

$24,500 PPP Loan

High Five Rox LLC
American Fork, UT

$23,100 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 136,511 businesses in the "Limited-Service Restaurants" industry received a total of $13.86B 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 Kndrs LLC's reported 500 employees, and received an average PPP loan of $101,497, 98% lower than this company's loan of $6.69M.

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.

Search FederalPay's Full PPP Loan Database

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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