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PPP Loan Data — Kumar Management Corporation,
Foster City, CA
FRANCHISE
CAKumar Management Corporation
Entity: Corporation
Industry: Limited-Service Restaurants
Franchise: Taco Bell
Location: Foster City, CA
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Kumar Management Corporation is a corporation located at 1118 Chess Dr in Foster City, California that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in March, 2021. This business is a Taco Bell franchise.
The company has reported itself as an Asian male owned business, and employed at least 392 people during the applicable loan loan period.
$
PPP Loan Information
Loan #1708548609
Loan Size:
Jobs Retained:
392Loan Approved:
2021-03-13Loan Status:
Ongoing LoanLender:
Fifth Third BankKumar Management Corporation in Foster City, CA received a Paycheck Protection Loan of $2M through Fifth Third Bank, which was approved in March, 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, Kumar Management Corporation's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 392 jobs retained, this equals an estimated average yearly compensation of $24,490 per employee1
Reported PPP Proceed Usage:
On the PPP application, Kumar Management Corporation reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,998
- Utilities: $1
Business Information - Kumar Management Corporation in Foster City, CA
1118 Chess Dr
Foster City, CA 94404
Business Industry:
Limited-Service Restaurants
NAICS code 722513
Business Owner Demographics
Race: Asian
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
Businesses Using Same Address:
There are 5 other businesses that received a PPP loan registered to the same address as Kumar Management Corporation.
Rasoi Restaurant And Bar Inc
Full-Service Restaurants
Kumar Management, Corporation Cantina
Limited-Service Restaurants
Tripart Management Ll, Inc
Limited-Service Restaurants
Tripart Management, Inc
Limited-Service Restaurants
Kumar Management, Corporation SW
Limited-Service Restaurants
Similar Companies near Foster City
In the Foster City area, 30 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 58 employees (compared to this company's 392) and received an average PPP loan of $330,331 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Samoon Cheam
San Mateo, CA
Rangent So
San Mateo, CA
PM Stone Investments
San Mateo, CA
El Hihi & Sons Inc
Foster City, CA
California Burger LLC
San Mateo, CA
Century Centre Cafe
San Mateo, CA
Yummy Yogurt San Mateo Inc
San Mateo, CA
Peninsula Food Inc
San Mateo, CA
Toayuen Corporation
San Mateo, CA
Industry PPP Comparison Statistics
Nationwide, 136,560 businesses in the "Limited-Service Restaurants" industry received a total of $13.87B 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, 95% lower than Kumar Management Corporation's reported 392 employees, and received an average PPP loan of $101,544, 95% lower than this company's loan of $2M.
FRANCHISE
CAKumar Management, Corporation
Entity: Corporation
Industry: Limited-Service Restaurants
Franchise: Taco Bell
Location: Foster City, CA
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•
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Kumar Management, Corporation is a corporation located at 1118 Chess Dr in Foster City, California that received a Coronavirus-related PPP loan from the SBA of $2,584,100.00 in April, 2020. This business is a Taco Bell franchise.
The company has reported itself as an Asian male owned business, and employed at least 382 people during the applicable loan loan period.
$
PPP Loan Information
Loan #3833477102
Loan Size:
Jobs Retained:
382Loan Approved:
2020-04-12Loan Status:
Paid in Full or ForgivenLender:
Umpqua BankKumar Management, Corporation in Foster City, CA received a Paycheck Protection Loan of $2.58M through Umpqua 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 July, 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, Kumar Management, Corporation's 2019 payroll expenses are estimated to be at least $12.4M.
Based on their reported 382 jobs retained, this equals an estimated average yearly compensation of $32,470 per employee1
Reported PPP Proceed Usage:
On the PPP application, Kumar Management, Corporation reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,584,100
Business Information - Kumar Management, Corporation in Foster City, CA
1118 Chess Dr
Foster City, CA 94404
Business Industry:
Limited-Service Restaurants
NAICS code 722513
Business Owner Demographics
Race: Asian
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
Businesses Using Same Address:
There are 5 other businesses that received a PPP loan registered to the same address as Kumar Management, Corporation.
Rasoi Restaurant And Bar Inc
Full-Service Restaurants
Kumar Management, Corporation Cantina
Limited-Service Restaurants
Tripart Management Ll, Inc
Limited-Service Restaurants
Tripart Management, Inc
Limited-Service Restaurants
Kumar Management, Corporation SW
Limited-Service Restaurants
Similar Companies near Foster City
In the Foster City area, 30 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 58 employees (compared to this company's 382) and received an average PPP loan of $330,331 (compared to this company's $2.58M).
Similar Nearby Businesses Who Received PPP Funding:
Samoon Cheam
San Mateo, CA
Rangent So
San Mateo, CA
PM Stone Investments
San Mateo, CA
El Hihi & Sons Inc
Foster City, CA
California Burger LLC
San Mateo, CA
Century Centre Cafe
San Mateo, CA
Yummy Yogurt San Mateo Inc
San Mateo, CA
Peninsula Food Inc
San Mateo, CA
Toayuen Corporation
San Mateo, CA
Industry PPP Comparison Statistics
Nationwide, 136,560 businesses in the "Limited-Service Restaurants" industry received a total of $13.87B 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, 95% lower than Kumar Management, Corporation's reported 382 employees, and received an average PPP loan of $101,544, 96% lower than this company's loan of $2.58M.
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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