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PPP Loan Data — La Ola Del Mar Inc,
Stickney, IL
La Ola Del Mar Inc
Entity: Corporation
Industry: Full-Service Restaurants
Location: Stickney, IL
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La Ola Del Mar Inc is a corporation located at 4109 S Harlem Ave in Stickney, Illinois that received a Coronavirus-related PPP loan from the SBA of $90,007.00 in January, 2021.
The company has reported itself as a White male owned business, and employed at least fifteen people during the applicable loan loan period.
$
PPP Loan Information
Loan #2487838308
Loan Size:
Jobs Retained:
15Loan Approved:
2021-01-20Loan Status:
Paid in Full or ForgivenLender:
Byline BankLa Ola Del Mar Inc in Stickney, IL received a Paycheck Protection Loan of $90,007 through Byline Bank, which was approved in January, 2021.
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, 2022.
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, La Ola Del Mar Inc's 2019 payroll expenses are estimated to be at least $432,034.
Based on their reported 15 jobs retained, this equals an estimated average yearly compensation of $28,802 per employee1
Reported PPP Proceed Usage:
On the PPP application, La Ola Del Mar Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $90,005
- Utilities: $1
Business Information - La Ola Del Mar Inc in Stickney, IL
4109 S Harlem Ave
Stickney, IL 60402
Business Industry:
Full-Service Restaurants
NAICS code 722511
Business Owner Demographics
Race: White
Ethnicity: Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: N
Rural / Urban: Urban
Similar Companies near Stickney
In the Stickney area, 57 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 35 employees (compared to this company's 15) and received an average PPP loan of $186,412 (compared to this company's $90,007).
Similar Nearby Businesses Who Received PPP Funding:
Cold Cut Corporation
Crest Hill, IL
Merichka's - Mac3959
Crest Hill, IL
Buona Catering LLC
Berwyn, IL
Taikai Enterprises Inc
Crest Hill, IL
Huang Enterprise Inc
Crest Hill, IL
WEN Zhao Corp
Berwyn, IL
ORA Casual Dining LLC
Beecher, IL
Mvms Inc
Berwyn, IL
Luigis Paisans Pizza Inc
Berwyn, IL
Industry PPP Comparison Statistics
Nationwide, 326,448 businesses in the "Full-Service Restaurants" industry received a total of $42.51B 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, 47% higher than La Ola Del Mar Inc's reported 15 employees, and received an average PPP loan of $130,222, 45% higher than this company's loan of $90,007.
La Ola Del Mar, Inc
Entity: Corporation
Industry: Full-Service Restaurants
Location: Stickney, IL
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•
Search All PPP Data
La Ola Del Mar, Inc is a corporation located at 4109 S Harlem Ave in Stickney, Illinois that received a Coronavirus-related PPP loan from the SBA of $87,542.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 21 people during the applicable loan loan period.
$
PPP Loan Information
Loan #6820387202
Loan Size:
Jobs Retained:
21Loan Approved:
2020-04-28Loan Status:
Paid in Full or ForgivenLender:
Byline BankLa Ola Del Mar, Inc in Stickney, IL received a Paycheck Protection Loan of $87,542 through Byline 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 April, 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, La Ola Del Mar, Inc's 2019 payroll expenses are estimated to be at least $420,202.
Based on their reported 21 jobs retained, this equals an estimated average yearly compensation of $20,010 per employee1
Reported PPP Proceed Usage:
On the PPP application, La Ola Del Mar, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $87,542
Business Information - La Ola Del Mar, Inc in Stickney, IL
4109 S Harlem Ave
Stickney, IL 60402
Business Industry:
Full-Service Restaurants
NAICS code 722511
Business Owner Demographics
Race: White
Ethnicity: Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: N
Rural / Urban: Urban
Similar Companies near Stickney
In the Stickney area, 57 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 35 employees (compared to this company's 21) and received an average PPP loan of $186,412 (compared to this company's $87,542).
Similar Nearby Businesses Who Received PPP Funding:
Cold Cut Corporation
Crest Hill, IL
Merichka's - Mac3959
Crest Hill, IL
Buona Catering LLC
Berwyn, IL
Taikai Enterprises Inc
Crest Hill, IL
Huang Enterprise Inc
Crest Hill, IL
WEN Zhao Corp
Berwyn, IL
ORA Casual Dining LLC
Beecher, IL
Mvms Inc
Berwyn, IL
Luigis Paisans Pizza Inc
Berwyn, IL
Industry PPP Comparison Statistics
Nationwide, 326,448 businesses in the "Full-Service Restaurants" industry received a total of $42.51B 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, 5% higher than La Ola Del Mar, Inc's reported 21 employees, and received an average PPP loan of $130,222, 49% higher than this company's loan of $87,542.
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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