PPP Loan Data — KPK Restaurant Inc, Paintsville, KY
KPK Restaurant Inc is a corporation located at 501 Jefferson Ave Ste 164 in Paintsville, Kentucky that received a Coronavirus-related PPP loan from the SBA of $47,100.00 in January, 2021.
The company has reported itself as an Asian male owned business, and employed at least eleven people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Community Trust Bank, Inc.
KPK Restaurant Inc in Paintsville, KY received a Paycheck Protection Loan of $47,100 through Community Trust Bank, Inc., which was approved in January, 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, KPK Restaurant Inc's 2019 payroll expenses are estimated to be at least $226,080.
Based on their reported 11 jobs retained, this equals an estimated average yearly compensation of $20,553 per employee1
Reported PPP Proceed Usage:
On the PPP application, KPK Restaurant Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $47,098
- Utilities: $1
Business Information - KPK Restaurant Inc in Paintsville, KY
501 Jefferson Ave Ste 164
Paintsville, KY 41240
NAICS code 722511
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Paintsville
In the Paintsville area, 13 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 41 employees (compared to this company's 11) and received an average PPP loan of $119,248 (compared to this company's $47,100).
Similar Nearby Businesses Who Received PPP Funding:
Fairchild & Fairchild Incorporated
Prime Diner & Grill, Inc
Angie's Cast Iron Grill LLC
Big A Foods LLC
KPL Restaurant, Inc
Mi Hacienda V 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, 100% higher than KPK Restaurant Inc's reported 11 employees, and received an average PPP loan of $129,504, 175% higher than this company's loan of $47,100.
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Footnotes & Information
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