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PPP Loan Data — Leeann Chin, Inc,
Minneapolis, MN
Leeann Chin, Inc
Entity: Corporation
Industry: Full-Service Restaurants
Location: Minneapolis, MN
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Leeann Chin, Inc is a corporation located at 3600 American Blvd West, Suite 165 in Minneapolis, Minnesota that received a Coronavirus-related PPP loan from the SBA of $3,154,000.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 240 people during the applicable loan loan period.
$ PPP Loan Information
Loan Size:
Jobs Retained:
240Loan Approved:
2020-04-04Lender:
CITY NATIONAL BANK OF FLORIDALeeann Chin, Inc received a Paycheck Protection Loan of $3.15M through CITY NATIONAL BANK OF FLORIDA, which was approved in April, 2020.
Based on standard PPP eligibility rules, Leeann Chin, Inc's total 2019 payroll expenses were approximately $15.14M in order to qualify for the PPP loan amount received.
Based on their reported 240 jobs retained, this equals an estimated average yearly compensation of $63,080 per employee1.
Business Information - Leeann Chin, Inc in Minneapolis, MN
3600 American Blvd West, Suite 165
Minneapolis, MN 55431
Business Industry
Full-Service Restaurants (NAICS code 722511)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: MALE OWNED
Veteran Status: NON-VETERAN
Congressional District: MN-03Similar Companies near Minneapolis
In the Minneapolis area, 29 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 30 employees (compared to this company's 240) and received an average PPP loan of $206,475 (compared to this company's $3.15M).
Similar Nearby Businesses Who Received PPP Funding:
V Bistro LLC
Fridley, MN
B.A.M.
Minneapolis, MN
LCI Baltimore, LLC
Minneapolis, MN
Wilson, LLC
Minneapolis, MN
Route 47 Pub & Grub Inc
Fridley, MN
The Lambi Corporation
Bloomington, MN
Big Hook Inc.
Brooklyn Ctr, MN
Pequot Bar And Grill LLC
Fridley, MN
Industry PPP Comparison Statistics
Nationwide, 175,054 businesses in the "Full-Service Restaurants" industry received a total of $20,426,260,320.00 in PPP loans. These businesses account for 3% of total PPP applications submitted, and received 4% of the total PPP funding allocated.
PPP recipients in this industry report an average of 20 employees, 92% lower than Leeann Chin, Inc's reported 240 employees, and received an average PPP loan of $116,685, 96% lower than this company's loan of $3.15M.
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.
Footnotes & Information
1. 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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