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PPP Loan Data — Lehigh Valley Restaurant Group Inc,
Allentown, PA
FRANCHISE
PALehigh Valley Restaurant Group Inc
Entity: Subchapter S Corporation
Industry: Full-Service Restaurants
Franchise: Red Robin
Location: Allentown, PA
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Lehigh Valley Restaurant Group Inc is a subchapter s corporation located at 6802 Hamilton Blvd 6802 Hamilton Blvd in Allentown, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in February, 2021. This business is a Red Robin franchise.
The company has reported itself as a male owned business, and employed at least 300 people during the applicable loan loan period.
$
PPP Loan Information
Loan #5132638508
Loan Size:
Jobs Retained:
300Loan Approved:
2021-02-27Loan Status:
Paid in Full or ForgivenLender:
Peoples Security Bank and Trust CompanyLehigh Valley Restaurant Group Inc in Allentown, PA received a Paycheck Protection Loan of $2M through Peoples Security Bank and Trust Company, which was approved in February, 2021.
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 October, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Lehigh Valley Restaurant Group Inc's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 300 jobs retained, this equals an estimated average yearly compensation of $32,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Lehigh Valley Restaurant Group Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,995
- Utilities: $1
Business Information - Lehigh Valley Restaurant Group Inc in Allentown, PA
6802 Hamilton Blvd 6802 Hamilton Blvd
Allentown, PA 18106
Business Industry:
Full-Service Restaurants
NAICS code 722511
Business Owner Demographics
Race: Unreported
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Businesses Using Same Address:
There is one other business that received a PPP loan registered to the same address as Lehigh Valley Restaurant Group Inc.
Lehigh Valley Management Services LLC
Full-Service Restaurants
Similar Companies near Allentown
In the Allentown area, 18 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 78 employees (compared to this company's 300) and received an average PPP loan of $630,125 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
HO Ho Inc
Wescosville, PA
DA Pizzeria LLC
Allentown, PA
Lehigh Valley Management Services
Allentown, PA
Shepherd Hills Dining LLC
Wescosville, PA
Panagia Plagia Inc
Allentown, PA
Wisdom Restaurant Group, LLC
Allentown, PA
Dadd Pizza Macungie Inc
Allentown, PA
Shepherd Hills Dining, LLC
Allentown, PA
Industry PPP Comparison Statistics
Nationwide, 326,413 businesses in the "Full-Service Restaurants" industry received a total of $42.5B 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, 93% lower than Lehigh Valley Restaurant Group Inc's reported 300 employees, and received an average PPP loan of $130,196, 93% lower than this company's loan of $2M.
Lehigh Valley Restaurant Group, Inc
Entity: Subchapter S Corporation
Industry: Full-Service Restaurants
Location: Allentown, PA
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Lehigh Valley Restaurant Group, Inc is a subchapter s corporation located at 6802 Hamilton Street in Allentown, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $6,660,300.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 500 people during the applicable loan loan period.
$
PPP Loan Information
Loan #4481657010
Loan Size:
Jobs Retained:
500Loan Approved:
2020-04-03Loan Status:
Paid in Full or ForgivenLender:
Peoples Security Bank and Trust CompanyLehigh Valley Restaurant Group, Inc in Allentown, PA received a Paycheck Protection Loan of $6.66M through Peoples Security Bank and Trust Company, which was approved in April, 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 July, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Lehigh Valley Restaurant Group, Inc's 2019 payroll expenses are estimated to be at least $31.97M.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $63,939 per employee1
Reported PPP Proceed Usage:
On the PPP application, Lehigh Valley Restaurant Group, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $6,660,300
Business Information - Lehigh Valley Restaurant Group, Inc in Allentown, PA
6802 Hamilton Street
Allentown, PA 18106
Business Industry:
Full-Service Restaurants
NAICS code 722511
Business Owner Demographics
Race: Unreported
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Allentown
In the Allentown area, 18 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 78 employees (compared to this company's 500) and received an average PPP loan of $630,125 (compared to this company's $6.66M).
Similar Nearby Businesses Who Received PPP Funding:
HO Ho Inc
Wescosville, PA
DA Pizzeria LLC
Allentown, PA
Lehigh Valley Management Services
Allentown, PA
Shepherd Hills Dining LLC
Wescosville, PA
Panagia Plagia Inc
Allentown, PA
Wisdom Restaurant Group, LLC
Allentown, PA
Dadd Pizza Macungie Inc
Allentown, PA
Shepherd Hills Dining, LLC
Allentown, PA
Industry PPP Comparison Statistics
Nationwide, 326,413 businesses in the "Full-Service Restaurants" industry received a total of $42.5B 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, 96% lower than Lehigh Valley Restaurant Group, Inc's reported 500 employees, and received an average PPP loan of $130,196, 98% lower than this company's loan of $6.66M.
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. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
Footnotes & Information
1. Estimations for informational purposes only. 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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