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PPP Loan Data — Metro360 LLC,
Indianapolis, IN
Metro360 LLC
Entity: Limited Liability Company (LLC)
Industry: Limited-Service Restaurants
Location: Indianapolis, IN
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Metro360 LLC is a limited liability company (LLC) located at 2102 E Washington St in Indianapolis, Indiana that received a Coronavirus-related PPP loan from the SBA of $76,908.00 in February, 2021.
The company has reported itself as a White male owned business, and employed at least 22 people during the applicable loan loan period.
$
PPP Loan Information
Loan #1297038505
Loan Size:
Jobs Retained:
22Loan Approved:
2021-02-18Loan Status:
Paid in Full or ForgivenLender:
Square Capital, LLCMetro360 LLC in Indianapolis, IN received a Paycheck Protection Loan of $76,908 through Square Capital, LLC, which was approved in February, 2021.
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 February, 2022.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Metro360 LLC's 2019 payroll expenses are estimated to be at least $369,158.
Based on their reported 22 jobs retained, this equals an estimated average yearly compensation of $16,780 per employee1
Reported PPP Proceed Usage:
On the PPP application, Metro360 LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $76,908
Business Information - Metro360 LLC in Indianapolis, IN
2102 E Washington St
Indianapolis, IN 46201
Business Industry:
Limited-Service Restaurants
NAICS code 722513
Business Owner Demographics
Race: White
Ethnicity: Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: Y
Rural / Urban: Urban
Similar Companies near Indianapolis
In the Indianapolis area, 23 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 10 employees (compared to this company's 22) and received an average PPP loan of $48,921 (compared to this company's $76,908).
Similar Nearby Businesses Who Received PPP Funding:
10Th Street Diner
Indianapolis, IN
Tjwg Inc
Indianapolis, IN
Hari Fast Food Inc
Indianapolis, IN
Hasah Inc
Indianapolis, IN
K & N Ventures LLC
Indianapolis, IN
Tinker Coffee Co., LLC
Indianapolis, IN
Dragon City Inc
Indianapolis, IN
Three D And J LLC
Indianapolis, IN
Industry PPP Comparison Statistics
Nationwide, 136,544 businesses in the "Limited-Service Restaurants" industry received a total of $13.87B 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, 5% lower than Metro360 LLC's reported 22 employees, and received an average PPP loan of $101,555, 32% higher than this company's loan of $76,908.
Metro360 LLC
Entity: Limited Liability Company (LLC)
Industry: Electrical Contractors and Other Wiring Installation Contractors
Location: Indianapolis, IN
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Metro360 LLC is a limited liability company (LLC) located at 2102 E. Washington Street in Indianapolis, Indiana that received a Coronavirus-related PPP loan from the SBA of $54,935.00 in May, 2020.
The company has reported itself as a White male owned business, and employed at least 29 people during the applicable loan loan period.
$
PPP Loan Information
Loan #3642427705
Loan Size:
Jobs Retained:
29Loan Approved:
2020-05-01Loan Status:
Paid in Full or ForgivenLender:
Square Capital, LLCMetro360 LLC in Indianapolis, IN received a Paycheck Protection Loan of $54,935 through Square Capital, LLC, which was approved in May, 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
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Metro360 LLC's 2019 payroll expenses are estimated to be at least $263,688.
Based on their reported 29 jobs retained, this equals an estimated average yearly compensation of $9,093 per employee1
Reported PPP Proceed Usage:
On the PPP application, Metro360 LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $41,201
- Utilities: $6,867
- Mortgage Interest: $6,867
Business Information - Metro360 LLC in Indianapolis, IN
2102 E. Washington Street
Indianapolis, IN 46201
Business Industry:
Electrical Contractors and Other Wiring Installation Contractors
NAICS code 238210
Business Owner Demographics
Race: White
Ethnicity: Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: Y
Rural / Urban: Urban
Similar Companies near Indianapolis
In the Indianapolis area, 8 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a PPP loan. These local businesses reported an average of 62 employees (compared to this company's 29) and received an average PPP loan of $743,625 (compared to this company's $54,935).
Similar Nearby Businesses Who Received PPP Funding:
C-Cat Inc
Indianapolis, IN
BWI Contractors, LLC
Indianapolis, IN
Barth Electic Company Inc
Indianapolis, IN
Brittany Mcintosh
Indianapolis, IN
Industry PPP Comparison Statistics
Nationwide, 81,487 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a total of $11.75B in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 11 employees, 62% lower than Metro360 LLC's reported 29 employees, and received an average PPP loan of $144,186, 162% higher than this company's loan of $54,935.
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. Estimations for informational purposes only. 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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