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PPP Loan Data — Olympian Restaurant LLC,
Salt Lake City, UT
Olympian Restaurant LLC
Entity: Limited Liability Company (LLC)
Industry: Full-Service Restaurants
Location: Salt Lake City, UT
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Olympian Restaurant LLC is a limited liability company (LLC) located at 2181 S 700 E in Salt Lake City, Utah that received a Coronavirus-related PPP loan from the SBA of $75,453.00 in January, 2021.
$
PPP Loan Information
Loan #6592678308
Loan Size:
Jobs Retained:
9Loan Approved:
2021-01-27Loan Status:
Paid in Full or ForgivenLender:
Zions Bank, A Division ofOlympian Restaurant LLC in Salt Lake City, UT received a Paycheck Protection Loan of $75,453 through Zions Bank, A Division of, which was approved in January, 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 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 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, Olympian Restaurant LLC's 2019 payroll expenses are estimated to be at least $362,174.
Based on their reported 9 jobs retained, this equals an estimated average yearly compensation of $40,242 per employee1
Reported PPP Proceed Usage:
On the PPP application, Olympian Restaurant LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $75,448
- Utilities: $1
Business Information - Olympian Restaurant LLC in Salt Lake City, UT
2181 S 700 E
Salt Lake City, UT 84106
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
Similar Companies near Salt Lake City
In the Salt Lake City area, 81 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 35 employees (compared to this company's 9) and received an average PPP loan of $175,667 (compared to this company's $75,453).
Similar Nearby Businesses Who Received PPP Funding:
Sushi Groove LLC
Salt Lake City, UT
Mazza LLC
Salt Lake City, UT
B&B Pizza LLC
Slc, UT
Whbc Group LLC
Salt Lake City, UT
Sung Won LLC DBA Tokai Sushi Restaurant
Salt Lake Cty, UT
Tradition LLC
Salt Lake City, UT
Amour LLC
Salt Lake City, UT
Kathmandu House Inc. The
Salt Lake City, UT
Skymoon LLC
Salt Lake City, UT
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, 144% higher than Olympian Restaurant LLC's reported 9 employees, and received an average PPP loan of $130,209, 73% higher than this company's loan of $75,453.
Olympian Restaurant, LLC
Entity: Limited Liability Company (LLC)
Industry: Limited-Service Restaurants
Location: Salt Lake City, UT
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Olympian Restaurant, LLC is a limited liability company (LLC) located at 2181 South 700 East in Salt Lake City, Utah that received a Coronavirus-related PPP loan from the SBA of $28,900.00 in May, 2020.
The company has reported itself as a White female owned business, and employed at least nine people during the applicable loan loan period.
$
PPP Loan Information
Loan #7927317709
Loan Size:
Jobs Retained:
9Loan Approved:
2020-05-01Loan Status:
Paid in Full or ForgivenLender:
Zions Bank, A Division ofOlympian Restaurant, LLC in Salt Lake City, UT received a Paycheck Protection Loan of $28,900 through Zions Bank, A Division of, 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 October, 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, Olympian Restaurant, LLC's 2019 payroll expenses are estimated to be at least $138,720.
Based on their reported 9 jobs retained, this equals an estimated average yearly compensation of $15,413 per employee1
Reported PPP Proceed Usage:
On the PPP application, Olympian Restaurant, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $28,900
Business Information - Olympian Restaurant, LLC in Salt Lake City, UT
2181 South 700 East
Salt Lake City, UT 84106
Business Industry:
Limited-Service Restaurants
NAICS code 722513
Business Owner Demographics
Race: White
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Salt Lake City
In the Salt Lake City area, 49 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 63 employees (compared to this company's 9) and received an average PPP loan of $527,452 (compared to this company's $28,900).
Similar Nearby Businesses Who Received PPP Funding:
Myles Alliance Inc
Slc, UT
William Mcmaster
Salt Lake City, UT
Sizzling Platter, LLC
Salt Lake City, UT
Subtech Inc
Murray, UT
Cloud 9Th Creamery LLC
Salt Lake City, UT
The Bagel Project
Salt Lake City, UT
The Corner At Fashion Place LLC
Murray, UT
Buds LLC
Salt Lake City, UT
Jamie Ao
Salt Lake Cty, UT
Industry PPP Comparison Statistics
Nationwide, 136,560 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, 133% higher than Olympian Restaurant, LLC's reported 9 employees, and received an average PPP loan of $101,544, 251% higher than this company's loan of $28,900.
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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