PPP Loan Data — Leeann Chin, Inc, Minneapolis, MN
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
Lender:CITY NATIONAL BANK OF FLORIDA
Leeann 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
Full-Service Restaurants (NAICS code 722511)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: MALE OWNED
Veteran Status: NON-VETERANCongressional District: MN-03
Similar 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
LCI Baltimore, LLC
Route 47 Pub & Grub Inc
The Lambi Corporation
Big Hook Inc.
Brooklyn Ctr, MN
Pequot Bar And Grill LLC
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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