PPP Loan Data — Los Ocampo Express 1, Inc., Minneapolis, MN
Los Ocampo Express 1, Inc. is a corporation located at 40 So 7th St Ste 203 in Minneapolis, Minnesota that received a Coronavirus-related PPP loan from the SBA of $27,500.00 in April, 2020.
$ PPP Loan Information
Lender:SUNRISE BANKS, NATIONAL ASSOCIATION
Los Ocampo Express 1, Inc. received a Paycheck Protection Loan of $27,500 through SUNRISE BANKS, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Los Ocampo Express 1, Inc.'s total 2019 payroll expenses were approximately $132,000 in order to qualify for the PPP loan amount received.
Based on their reported 7 jobs retained, this equals an estimated average yearly compensation of $18,857 per employee1.
Business Information - Los Ocampo Express 1, Inc. in Minneapolis, MN
40 So 7th St Ste 203
Minneapolis, MN 55402
Full-Service Restaurants (NAICS code 722511)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: MN-05
Similar Companies near Minneapolis
In the Minneapolis area, 102 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 35 employees (compared to this company's 7) and received an average PPP loan of $278,882 (compared to this company's $27,500).
Similar Nearby Businesses Who Received PPP Funding:
Hennepin Avenue Restaurant, LLC
Skyway Wok Incorporation
201 South Eleventh LLC
B & A Restaurant Corporation
BW Entertainment, LLC
JV Singh Corporation
SOL Sisters Inc.
Wolf & Raven, 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, 186% higher than Los Ocampo Express 1, Inc.'s reported 7 employees, and received an average PPP loan of $116,685, 324% higher than this company's loan of $27,500.
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. 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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