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PPP Loan Data — Meyer Metz Restaurants LLC,
West Palm Beach, FL
FRANCHISE
FLMeyer Metz Restaurants LLC
Entity: Limited Liability Company (LLC)
Industry: Full-Service Restaurants
Franchise: Denny's
Location: West Palm Beach, FL
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Meyer Metz Restaurants LLC is a limited liability company (LLC) located at 1280 Old Congress Ave Ste 107 in West Palm Beach, Florida that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in February, 2021. This business is a Denny's franchise.
$
PPP Loan Information
Loan #7502528409
Loan Size:
Jobs Retained:
299Loan Approved:
2021-02-12Loan Status:
Ongoing LoanLender:
Professional BankMeyer Metz Restaurants LLC in West Palm Beach, FL received a Paycheck Protection Loan of $2M through Professional Bank, which was approved in February, 2021.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
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, Meyer Metz Restaurants LLC's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 299 jobs retained, this equals an estimated average yearly compensation of $32,107 per employee1
Reported PPP Proceed Usage:
On the PPP application, Meyer Metz Restaurants LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,000,000
Business Information - Meyer Metz Restaurants LLC in West Palm Beach, FL
1280 Old Congress Ave Ste 107
West Palm Beach, FL 33409
Business Industry:
Full-Service Restaurants
NAICS code 722511
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: Y
Rural / Urban: Urban
Similar Companies near West Palm Beach
In the West Palm Beach area, 120 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 32 employees (compared to this company's 299) and received an average PPP loan of $191,206 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Sunshine Of Pb Inc
West Palm Beach, FL
Farmer's Table Npb LLC
North Palm Beach, FL
Vietnamese Express Cafe LLC
North Palm Beach, FL
Barcello
North Palm Beach, FL
WAN Bao Inc
West Palm Beach, FL
Diner USA Inc
West Palm Beach, FL
King Neptune Seafood Restaurant LLC
North Palm Beach, FL
BGM Pembroke Pines LLC
North Palm Beach, FL
Paris & Us Inc
North Palm Beach, FL
Industry PPP Comparison Statistics
Nationwide, 309,144 businesses in the "Full-Service Restaurants" industry received a total of $40.98B in PPP loans. These businesses account for 3% of total PPP applications submitted, and received 6% of the total PPP funding allocated.
PPP recipients in this industry report an average of 23 employees, 92% lower than Meyer Metz Restaurants LLC's reported 299 employees, and received an average PPP loan of $132,556, 93% lower than this company's loan of $2M.
FRANCHISE
FLMeyer Metz Restaurants LLC
Entity: Limited Liability Company (LLC)
Industry: Full-Service Restaurants
Franchise: Denny's
Location: West Palm Beach, FL
Tweet This
•
Search All PPP Data
Meyer Metz Restaurants LLC is a limited liability company (LLC) located at 1280 N Congress Ave Ste 107 in West Palm Beach, Florida that received a Coronavirus-related PPP loan from the SBA of $3,026,700.00 in April, 2020. This business is a Denny's franchise.
$
PPP Loan Information
Loan #3804157308
Loan Size:
Jobs Retained:
500Loan Approved:
2020-04-29Loan Status:
Ongoing LoanLender:
Meridian BankMeyer Metz Restaurants LLC in West Palm Beach, FL received a Paycheck Protection Loan of $3.03M through Meridian Bank, which was approved in April, 2020.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
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, Meyer Metz Restaurants LLC's 2019 payroll expenses are estimated to be at least $14.53M.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $29,056 per employee1
Reported PPP Proceed Usage:
On the PPP application, Meyer Metz Restaurants LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $3,026,700
Business Information - Meyer Metz Restaurants LLC in West Palm Beach, FL
1280 N Congress Ave Ste 107
West Palm Beach, FL 33409
Business Industry:
Full-Service Restaurants
NAICS code 722511
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age:
LMI Zone: Y
HUBZone: Y
Rural / Urban: Urban
Similar Companies near West Palm Beach
In the West Palm Beach area, 120 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 32 employees (compared to this company's 500) and received an average PPP loan of $191,206 (compared to this company's $3.03M).
Similar Nearby Businesses Who Received PPP Funding:
Sunshine Of Pb Inc
West Palm Beach, FL
Farmer's Table Npb LLC
North Palm Beach, FL
Vietnamese Express Cafe LLC
North Palm Beach, FL
Barcello
North Palm Beach, FL
WAN Bao Inc
West Palm Beach, FL
Diner USA Inc
West Palm Beach, FL
King Neptune Seafood Restaurant LLC
North Palm Beach, FL
BGM Pembroke Pines LLC
North Palm Beach, FL
Paris & Us Inc
North Palm Beach, FL
Industry PPP Comparison Statistics
Nationwide, 309,144 businesses in the "Full-Service Restaurants" industry received a total of $40.98B in PPP loans. These businesses account for 3% of total PPP applications submitted, and received 6% of the total PPP funding allocated.
PPP recipients in this industry report an average of 23 employees, 95% lower than Meyer Metz Restaurants LLC's reported 500 employees, and received an average PPP loan of $132,556, 96% lower than this company's loan of $3.03M.
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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