PPP Loan Data — Legal Sea Foods, LLC, Boston, MA
Legal Sea Foods, LLC is a limited liability company (LLC) located at 1 Seafood Way in Boston, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $10,000,000.00 in April, 2020.
$ PPP Loan Information
Lender:ROCKLAND TRUST COMPANY
Legal Sea Foods, LLC received a Paycheck Protection Loan of $10M through ROCKLAND TRUST COMPANY, which was approved in April, 2020.
Based on standard PPP eligibility rules, Legal Sea Foods, LLC's total 2019 payroll expenses were approximately $48M in order to qualify for the PPP loan amount received.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $96,000 per employee1.
Business Information - Legal Sea Foods, LLC in Boston, MA
1 Seafood Way
Boston, MA 2210
Full-Service Restaurants (NAICS code 722511)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: MA-08
Similar Companies near Boston
In the Boston area, 30 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 52 employees (compared to this company's 500) and received an average PPP loan of $784,425 (compared to this company's $10M).
Similar Nearby Businesses Who Received PPP Funding:
TIA's Waterfront, LLC
Stellar Restaurant Group, Inc.
Rebel Restaurants Somerville, LLC
Martinez Seafood Inc
Rebel Restaurants, LLC
348 Congress LLC
Big Night Entertainment Group Inc.
CRG Water LLC DBA Woods Hill
51 Liberty Drive 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, 96% lower than Legal Sea Foods, LLC's reported 500 employees, and received an average PPP loan of $116,685, 99% lower than this company's loan of $10M.
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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