Mission BBQ Management, LLC in Glen Burnie, MD - SBA PPP Loan Data (Paycheck Protection Program)

PPP Loan Data — Mission BBQ Management, LLC, Glen Burnie, MD

Mission BBQ Management, LLC

Entity: Limited Liability Company (LLC)

Industry: Full-Service Restaurants

Location: Glen Burnie, MD

Mission BBQ Management, LLC is a limited liability company (LLC) located at 7750 Governor Ritchie Highway in Glen Burnie, Maryland that received a Coronavirus-related PPP loan from the SBA of $10,000,000.00 in April, 2020.

$ PPP Loan Information
Loan #8415647105

Loan Size:

$10M

Jobs Retained:

500

Loan Approved:

2020-04-15

Loan Status:

Paid in Full or Forgiven

Lender:

Manufacturers and Traders Trust Company

Mission BBQ Management, LLC in Glen Burnie, MD received a Paycheck Protection Loan of $10M through Manufacturers and Traders Trust Company, 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 July, 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.

Understanding 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.

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, Mission BBQ Management, LLC's 2019 payroll expenses are estimated to be at least $48M.

Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $96,000 per employee¹

Reported PPP Proceed Usage:

On the PPP application, Mission BBQ Management, LLC reported intending to use the proceeds of their PPP loan for the following expenses:

Payroll: $7,600,000
Utilities: $900,000
Rent: $890,000
Health Care: $610,000

Because the loan received by Mission BBQ Management, LLC is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Mission BBQ Management, LLC in Glen Burnie, MD

Mission BBQ Management, LLC
7750 Governor Ritchie Highway
Glen Burnie, MD 21061

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: N

HUBZone: N

Rural / Urban: Urban

Anne Arundel County, MD — SBA Office 0373 — Congressional District: MD-03

Similar Companies near Glen Burnie

In the Glen Burnie area, 70 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 31 employees (compared to this company's 500) and received an average PPP loan of $276,943 (compared to this company's $10M).

Similar Nearby Businesses Who Received PPP Funding:

Glory Days Grill Of Pasadena LLC
Glen Burnie, MD

$35,000 PPP Loan

Jakumsung, Inc
Glen Burnie, MD

$31,600 PPP Loan

Mi Pueblo, Inc
Glen Burnie, MD

$208,200 PPP Loan

Plaza Garibaldi Mexican Restaurant Inc
Glen Burnie, MD

$133,312 PPP Loan

Yama Sushi Bar Glen Burnie Inc
Glen Burnie, MD

$55,111 PPP Loan

Cajun Glen Burnie LLC
Glen Burnie, MD

$27,257 PPP Loan

Panchakanya LLC
Glen Burnie, MD

$40,376 PPP Loan

Mali Thai LLC
Glen Burnie, MD

$3,785 PPP Loan

Pappas Restaurant & Sports Bar
Glen Burnie, MD

$221,037 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 326,480 businesses in the "Full-Service Restaurants" industry received a total of $42.51B 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, 96% lower than Mission BBQ Management, LLC's reported 500 employees, and received an average PPP loan of $130,209, 99% lower than this company's loan of $10M.

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.

Search FederalPay's Full PPP Loan Database

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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