PPP Loan Data — Legacy Hospitality Group, LLC, Maitland, FL
Legacy Hospitality Group, LLC is a limited liability company (LLC) located at 630 S Maitland Ave 200 in Maitland, Florida that received a Coronavirus-related PPP loan from the SBA of $1,789,087.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 159 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:JPMorgan Chase Bank, National Association
Legacy Hospitality Group, LLC in Maitland, FL received a Paycheck Protection Loan of $1.79M through JPMorgan Chase Bank, National Association, which was approved in April, 2020.
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, Legacy Hospitality Group, LLC's 2019 payroll expenses are estimated to be at least $8.59M.
Based on their reported 159 jobs retained, this equals an estimated average yearly compensation of $54,010 per employee1
Reported PPP Proceed Usage:
On the PPP application, Legacy Hospitality Group, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,293,440
- Utilities: $32,000
- Rent: $117,472
- Health Care: $48,375
- Debt Interest: $297,800
Business Information - Legacy Hospitality Group, LLC in Maitland, FL
630 S Maitland Ave 200
Maitland, FL 32751
NAICS code 722511
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Maitland
In the Maitland area, 84 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 29 employees (compared to this company's 159) and received an average PPP loan of $162,769 (compared to this company's $1.79M).
Similar Nearby Businesses Who Received PPP Funding:
YUK Ming Inc
Collettes Clean Eats Inc
Halal Grill LLC
Korea House Restaurant Inc
Verdon Restaurants, LLC
Industry PPP Comparison Statistics
Nationwide, 328,914 businesses in the "Full-Service Restaurants" industry received a total of $42.6B 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, 86% lower than Legacy Hospitality Group, LLC's reported 159 employees, and received an average PPP loan of $129,504, 93% lower than this company's loan of $1.79M.
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Footnotes & Information
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