PPP Loan Data — Long8 Inc, Honolulu, HI
Long8 Inc is a corporation located at 2628 Waiwai Loop in Honolulu, Hawaii that received a Coronavirus-related PPP loan from the SBA of $47,000.00 in April, 2020.
The company has reported itself as an Asian male owned business, and employed at least ten people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Hawaii National Bank
Long8 Inc in Honolulu, HI received a Paycheck Protection Loan of $47,000 through Hawaii National Bank, 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 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, Long8 Inc's 2019 payroll expenses are estimated to be at least $225,600.
Based on their reported 10 jobs retained, this equals an estimated average yearly compensation of $22,560 per employee1
Reported PPP Proceed Usage:
On the PPP application, Long8 Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $47,000
Business Information - Long8 Inc in Honolulu, HI
2628 Waiwai Loop
Honolulu, HI 96819
NAICS code 722513
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 Honolulu
In the Honolulu area, 92 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 27 employees (compared to this company's 10) and received an average PPP loan of $179,403 (compared to this company's $47,000).
Similar Nearby Businesses Who Received PPP Funding:
EEE Chiu Inc
Chun Wah Kam Noodle Factory, Inc
CO Chin LLC
North Star LLC
Kalihi Bar-B-Q Drive Inn Inc
Big Bowl Moanalua Inc
Penny's Drive Inn, LLC
Industry PPP Comparison Statistics
Nationwide, 137,629 businesses in the "Limited-Service Restaurants" industry received a total of $13.9B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 21 employees, 110% higher than Long8 Inc's reported 10 employees, and received an average PPP loan of $100,980, 115% higher than this company's loan of $47,000.
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Footnotes & Information
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