PPP Loan Data — Lena Foods Enterprise, Riverside, CA
Lena Foods Enterprise is a corporation located at 3695 Central Ave in Riverside, California that received a Coronavirus-related PPP loan from the SBA of $46,715.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank of America, National Association
Lena Foods Enterprise in Riverside, CA received a Paycheck Protection Loan of $46,715 through Bank of America, National Association, which was approved in May, 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, Lena Foods Enterprise's 2019 payroll expenses are estimated to be at least $224,232.
Based on their reported 13 jobs retained, this equals an estimated average yearly compensation of $17,249 per employee1
Reported PPP Proceed Usage:
On the PPP application, Lena Foods Enterprise reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,715
Business Information - Lena Foods Enterprise in Riverside, CA
3695 Central Ave
Riverside, CA 92506
NAICS code 722511
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Riverside
In the Riverside area, 136 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 16 employees (compared to this company's 13) and received an average PPP loan of $76,622 (compared to this company's $46,715).
Similar Nearby Businesses Who Received PPP Funding:
Zacateca Cafe Inc
Zacatecas Cafe Inc
Chenda K Lim
MMA Ventures LLC
Mcguire Restaurant Group Inc
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, 69% higher than Lena Foods Enterprise's reported 13 employees, and received an average PPP loan of $129,504, 177% higher than this company's loan of $46,715.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!