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PPP Loan Data — Palau's Cafe Corp,
Tampa, FL
Palau's Cafe Corp
Entity: Corporation
Industry: Full-Service Restaurants
Location: Tampa, FL
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Palau's Cafe Corp is a corporation located at 2301 N Armenia Ave in Tampa, Florida that received a Coronavirus-related PPP loan from the SBA of $11,200.00 in February, 2021.
The company has reported itself as a White male owned business, and employed at least three people during the applicable loan loan period.
$
PPP Loan Information
Loan #3736378406
Loan Size:
Jobs Retained:
3Loan Approved:
2021-02-05Loan Status:
Ongoing LoanLender:
Grow Financial FCUPalau's Cafe Corp in Tampa, FL received a Paycheck Protection Loan of $11,200 through Grow Financial FCU, 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, Palau's Cafe Corp's 2019 payroll expenses are estimated to be at least $53,760.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $17,920 per employee1
Reported PPP Proceed Usage:
On the PPP application, Palau's Cafe Corp reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $11,200
Business Information - Palau's Cafe Corp in Tampa, FL
2301 N Armenia Ave
Tampa, FL 33607
Business Industry:
Full-Service Restaurants
NAICS code 722511
Business Owner Demographics
Race: White
Ethnicity: Hispanic or Latino
Gender: Male Owned
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 Tampa
In the Tampa area, 167 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 43 employees (compared to this company's 3) and received an average PPP loan of $261,619 (compared to this company's $11,200).
Similar Nearby Businesses Who Received PPP Funding:
Caribbean Twist LLC
Tampa, FL
MD Southwest Florida 3 LLC
Tampa, FL
Evos South Tampa Tpa, LLC
Tampa, FL
Noho Junction LLC
Tampa, FL
MD West Florida 2 LLC
Tampa, FL
N&C Cafe LLC
Tampa, FL
Thee Tree House LLC
Tampa, FL
Bmm1 Enterprises Inc
Tampa, FL
Inspired Partners 3 LLC
Tampa, 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, 667% higher than Palau's Cafe Corp's reported 3 employees, and received an average PPP loan of $132,556, 1084% higher than this company's loan of $11,200.
Palau's Cafe Corp
Entity: Corporation
Industry: Limited-Service Restaurants
Location: Tampa, FL
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Palau's Cafe Corp is a corporation located at 2301 North Armenia Avenue in Tampa, Florida that received a Coronavirus-related PPP loan from the SBA of $5,300.00 in May, 2020.
The company has reported itself as a White male owned business, and employed at least two people during the applicable loan loan period.
$
PPP Loan Information
Loan #3599077406
Loan Size:
Jobs Retained:
2Loan Approved:
2020-05-07Loan Status:
Ongoing LoanLender:
Grow Financial FCUPalau's Cafe Corp in Tampa, FL received a Paycheck Protection Loan of $5,300 through Grow Financial FCU, which was approved in May, 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, Palau's Cafe Corp's 2019 payroll expenses are estimated to be at least $25,440.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $12,720 per employee1
Reported PPP Proceed Usage:
On the PPP application, Palau's Cafe Corp reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $5,300
Business Information - Palau's Cafe Corp in Tampa, FL
2301 North Armenia Avenue
Tampa, FL 33607
Business Industry:
Limited-Service Restaurants
NAICS code 722513
Business Owner Demographics
Race: White
Ethnicity: Hispanic or Latino
Gender: Male Owned
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 Tampa
In the Tampa area, 40 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 40 employees (compared to this company's 2) and received an average PPP loan of $414,653 (compared to this company's $5,300).
Similar Nearby Businesses Who Received PPP Funding:
Haag-IP, LLC
Tampa, FL
Pizza Hotline, Inc
Tampa, FL
Italian Dream Group,Inc
Tampa, FL
Almery LLC
Tampa, FL
DNK Burgers II LLC
Tampa, FL
Sarge's BBQ Noho
Tampa, FL
FK Waterford LLC
Tampa, FL
Sorrento Sweets PR LLC
Tampa, FL
Industry PPP Comparison Statistics
Nationwide, 127,949 businesses in the "Limited-Service Restaurants" industry received a total of $13.48B 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 22 employees, 1000% higher than Palau's Cafe Corp's reported 2 employees, and received an average PPP loan of $105,388, 1888% higher than this company's loan of $5,300.
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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