PPP Loan Data — LIN Family Buffet, Burlington, IA
LIN Family Buffet is a corporation located at 3335 Agency St in Burlington, Iowa that received a Coronavirus-related PPP loan from the SBA of $25,147.00 in July, 2020.
The company has reported itself as a female owned business, and employed at least nine people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:U.S. Bank, National Association
LIN Family Buffet in Burlington, IA received a Paycheck Protection Loan of $25,147 through U.S. Bank, National Association, which was approved in July, 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 June, 2021.
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, LIN Family Buffet's 2019 payroll expenses are estimated to be at least $120,706.
Based on their reported 9 jobs retained, this equals an estimated average yearly compensation of $13,412 per employee1
Reported PPP Proceed Usage:
On the PPP application, LIN Family Buffet reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,147
Business Information - LIN Family Buffet in Burlington, IA
3335 Agency St
Burlington, IA 52601
NAICS code 722511
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Burlington
In the Burlington area, 43 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 26 employees (compared to this company's 9) and received an average PPP loan of $111,677 (compared to this company's $25,147).
Similar Nearby Businesses Who Received PPP Funding:
Martinis Grille, LLC
Coal Fire Inc
Kelly O'sheas Inc
Mann's Mcdonalds Lc
Casa Fiesta Mexican Restaurant Inc
The Buffalo I, Inc
Krafted Concepts LLC
La Tavola, Inc
Mann's Enterprises 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, 144% higher than LIN Family Buffet's reported 9 employees, and received an average PPP loan of $129,504, 415% higher than this company's loan of $25,147.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!