PPP Loan Data — MAC Laff, Inc, Lafayette, LA
MAC Laff, Inc is a subchapter s corporation located at 106 Oak Way Ln in Lafayette, Louisiana that received a Coronavirus-related PPP loan from the SBA of $1,732,700.00 in April, 2020. This business is a McDonalds franchise.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Hancock Whitney Bank
MAC Laff, Inc in Lafayette, LA received a Paycheck Protection Loan of $1.73M through Hancock Whitney 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 May, 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, MAC Laff, Inc's 2019 payroll expenses are estimated to be at least $8.32M.
Based on their reported 131 jobs retained, this equals an estimated average yearly compensation of $63,488 per employee1
Reported PPP Proceed Usage:
On the PPP application, MAC Laff, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,732,700
Business Information - MAC Laff, Inc in Lafayette, LA
106 Oak Way Ln
Lafayette, LA 70506
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 Lafayette
In the Lafayette area, 48 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 57 employees (compared to this company's 131) and received an average PPP loan of $216,207 (compared to this company's $1.73M).
Similar Nearby Businesses Who Received PPP Funding:
Red Stag Investments, Inc
TJS Lafayette, LLC
Y & Weng Inc
Agave Cantina, Inc
Southern Hospitality Kitchens LLC
3230 NE Evangeline LLC
Anchor Lrkrj LLC
Best Barbecue LLC
Tsunami Restaurants 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, 83% lower than MAC Laff, Inc's reported 131 employees, and received an average PPP loan of $129,504, 93% lower than this company's loan of $1.73M.
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Footnotes & Information
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