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PPP Loan Data — Mr Wish Kop Inc, King Of Prussia, PA

ALERT: There are 2 PPP loans for a total of $49,997 in our database for businesses with the name "Mr Wish Kop Inc" in King Of Prussia, PA. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Mr Wish Kop Inc
PA

Mr Wish Kop Inc

Entity: Corporation

Industry: Cafeterias, Grill Buffets, and Buffets

Location: King Of Prussia, PA

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Mr Wish Kop Inc is a corporation located at 160 N Gulph Rd Unit 44 in King Of Prussia, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $29,165.00 in February, 2021.

$ PPP Loan Information
Loan #5394808402

Loan Size:

$29,165

Jobs Retained:

1

Loan Approved:

2021-02-08

Loan Status:

Ongoing Loan

Lender:

Fountainhead SBF LLC
Likely Employment Reduction3

Mr Wish Kop Inc in King Of Prussia, PA received a Paycheck Protection Loan of $29,165 through Fountainhead SBF LLC, 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. The loan's status was last updated by the SBA in November, -0001.

The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 1 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.

The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 1. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.

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 More
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.

Read More

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, Mr Wish Kop Inc's 2019 payroll expenses are estimated to be at least $139,992 (not accounting for salary amounts > $100k).

Because the 1 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.

Reported PPP Proceed Usage:

On the PPP application, Mr Wish Kop Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $29,165

Business Information - Mr Wish Kop Inc in King Of Prussia, PA

Mr Wish Kop Inc
160 N Gulph Rd Unit 44
King Of Prussia, PA 19406

Business Industry:
Cafeterias, Grill Buffets, and Buffets
NAICS code 722514

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

Montgomery County, PA — SBA Office 0303 — Congressional District: PA-04

Similar Companies near King Of Prussia

In the King Of Prussia area, 2 businesses in the "Cafeterias, Grill Buffets, and Buffets" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 1) and received an average PPP loan of $16,013 (compared to this company's $29,165).

Similar Nearby Businesses Who Received PPP Funding:

KNJ G Inc
King Of Prussia, PA

$2,860 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 5,728 businesses in the "Cafeterias, Grill Buffets, and Buffets" industry received a total of $401.47M 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 13 employees, 1200% higher than Mr Wish Kop Inc's reported 1 employees, and received an average PPP loan of $70,089, 140% higher than this company's loan of $29,165.

SBA PPP loan data, payroll data, and salaries for Mr Wish Kop Inc
PA

Mr Wish Kop Inc

Entity: Corporation

Industry: Full-Service Restaurants

Location: King Of Prussia, PA

Search All PPP Data

Mr Wish Kop Inc is a corporation located at 160 N Gulph Rd Unit 44 in King Of Prussia, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $20,832.00 in May, 2020.

$ PPP Loan Information
Loan #5656467804

Loan Size:

$20,832

Jobs Retained:

1

Loan Approved:

2020-05-30

Loan Status:

Paid in Full or Forgiven

Lender:

Fountainhead SBF LLC

Mr Wish Kop Inc in King Of Prussia, PA received a Paycheck Protection Loan of $20,832 through Fountainhead SBF 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 September, 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 More
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.

Read More

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, Mr Wish Kop Inc's 2019 payroll expenses are estimated to be at least $99,994 (not accounting for salary amounts > $100k).

Based on their reported 1 jobs retained, this equals an estimated average yearly compensation of $99,994 (not accounting for salary amounts > $100k) per employee1

Reported PPP Proceed Usage:

On the PPP application, Mr Wish Kop Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $20,832

Business Information - Mr Wish Kop Inc in King Of Prussia, PA

Mr Wish Kop Inc
160 N Gulph Rd Unit 44
King Of Prussia, PA 19406

Business Industry:
Full-Service Restaurants
NAICS code 722511

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: New Business or 2 years or less

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Montgomery County, PA — SBA Office 0303 — Congressional District: PA-04

Similar Companies near King Of Prussia

In the King Of Prussia area, 36 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 28 employees (compared to this company's 1) and received an average PPP loan of $208,087 (compared to this company's $20,832).

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, 2100% higher than Mr Wish Kop Inc's reported 1 employees, and received an average PPP loan of $130,209, 525% higher than this company's loan of $20,832.

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/mr-wish-kop-inc-king-of-prussia-pa