PPP Loan Data — Le Chef Gourmet Inc DBA Byblos Cafe & Grill II, Detroit, MI
Le Chef Gourmet Inc DBA Byblos Cafe & Grill II is a corporation located at 4830 Cass Ave in Detroit, Michigan that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.
The company has reported itself as a male owned business, and employed at least twelve people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:JPMorgan Chase Bank, National Association
Le Chef Gourmet Inc DBA Byblos Cafe & Grill II in Detroit, MI received a Paycheck Protection Loan of $25,000 through JPMorgan Chase Bank, National Association, which was approved in May, 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 May, 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, Le Chef Gourmet Inc DBA Byblos Cafe & Grill II's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 12 jobs retained, this equals an estimated average yearly compensation of $10,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Le Chef Gourmet Inc DBA Byblos Cafe & Grill II reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $20,000
- Utilities: $1,106
- Rent: $3,894
Business Information - Le Chef Gourmet Inc DBA Byblos Cafe & Grill II in Detroit, MI
4830 Cass Ave
Detroit, MI 48201
NAICS code 722513
Business Owner Demographics
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Detroit
In the Detroit area, 28 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 13 employees (compared to this company's 12) and received an average PPP loan of $55,643 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Street Beet Vegan LLC
Viking Managment LLC
Cold Truth LLC
Renis II LLC
Nia's Greek Grille, LLC
2941 Street Foods Midtown LLC
Captain Jay's 120, Inc
Treat Dreams Midtown, LLC
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, 75% higher than Le Chef Gourmet Inc DBA Byblos Cafe & Grill II's reported 12 employees, and received an average PPP loan of $100,980, 304% higher than this company's loan of $25,000.
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Footnotes & Information
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