PPP Loan Data — New China Buffet Eastgate Inc, Cincinnati, OH
New China Buffet Eastgate Inc is a corporation located at 4394 Eastgate Dr in Cincinnati, Ohio that received a Coronavirus-related PPP loan from the SBA of $25,412.00 in May, 2020.
The company has reported itself as an Asian female owned business, and employed at least nine people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:U.S. Bank, National Association
New China Buffet Eastgate Inc in Cincinnati, OH received a Paycheck Protection Loan of $25,412 through U.S. Bank, National Association, 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 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, New China Buffet Eastgate Inc's 2019 payroll expenses are estimated to be at least $121,978.
Based on their reported 9 jobs retained, this equals an estimated average yearly compensation of $13,553 per employee1
Reported PPP Proceed Usage:
On the PPP application, New China Buffet Eastgate Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,412
Business Information - New China Buffet Eastgate Inc in Cincinnati, OH
4394 Eastgate Dr
Cincinnati, OH 45245
Cafeterias, Grill Buffets, and Buffets
NAICS code 722514
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Non-Veteran
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Cincinnati
In the Cincinnati area, 3 businesses in the "Cafeterias, Grill Buffets, and Buffets" industry received a PPP loan. These local businesses reported an average of 9 employees (compared to this company's 9) and received an average PPP loan of $34,694 (compared to this company's $25,412).
Similar Nearby Businesses Who Received PPP Funding:
Pfeiffer And Squibb Interests Eastgate LLC
Quality & Quantity Jade Buffet Inc
Industry PPP Comparison Statistics
Nationwide, 6,055 businesses in the "Cafeterias, Grill Buffets, and Buffets" industry received a total of $409.46M 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 12 employees, 33% higher than New China Buffet Eastgate Inc's reported 9 employees, and received an average PPP loan of $67,624, 166% higher than this company's loan of $25,412.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!