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PPP Loan Data — Papagallos Inc,
North Swanzey, NH
Papagallos Inc
Entity: Subchapter S Corporation
Industry: Full-Service Restaurants
Location: North Swanzey, NH
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Papagallos Inc is a subchapter s corporation located at 9 Monadnock Hwy Rt 12 in North Swanzey, New Hampshire that received a Coronavirus-related PPP loan from the SBA of $363,696.00 in April, 2021.
$
PPP Loan Information
Loan #6234818705
Loan Size:
Jobs Retained:
15Loan Approved:
2021-04-03Loan Status:
Ongoing LoanLender:
Mascoma BankPapagallos Inc in North Swanzey, NH received a Paycheck Protection Loan of $363,696 through Mascoma Bank, which was approved in April, 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 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 15 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 17. 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 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, Papagallos Inc's 2019 payroll expenses are estimated to be at least $1.75M (not accounting for salary amounts > $100k).
Because the 15 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, Papagallos Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $363,693
- Utilities: $1
Business Information - Papagallos Inc in North Swanzey, NH
9 Monadnock Hwy Rt 12
North Swanzey, NH 3431
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: Rural
Similar Companies near North Swanzey
In the North Swanzey area, 41 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 17 employees (compared to this company's 15) and received an average PPP loan of $105,114 (compared to this company's $363,696).
Similar Nearby Businesses Who Received PPP Funding:
Stage Hands Corp
Keene, NH
Culinary Journey Management Corp
Keene, NH
Pedrazas, LLC
Keene, NH
Tokyo Express LLC
Keene, NH
Mohammed Waheed Ali
Keene, NH
Fletcher Stubbs Inc
Keene, NH
Timoleons Inc
Keene, NH
Mi Jalisco 2 LLC
Keene, NH
Curry Indian Restaurant And Groceries
Keene, NH
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, 47% higher than Papagallos Inc's reported 15 employees, and received an average PPP loan of $130,209, 64% lower than this company's loan of $363,696.
Papagallos Inc
Entity: Subchapter S Corporation
Industry: Full-Service Restaurants
Location: North Swanzey, NH
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Papagallos Inc is a subchapter s corporation located at 9 Monadnock Hwy in North Swanzey, New Hampshire that received a Coronavirus-related PPP loan from the SBA of $288,300.00 in April, 2020.
$
PPP Loan Information
Loan #8113007008
Loan Size:
Jobs Retained:
15Loan Approved:
2020-04-08Loan Status:
Paid in Full or ForgivenLender:
Mascoma BankPapagallos Inc in North Swanzey, NH received a Paycheck Protection Loan of $288,300 through Mascoma Bank, 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 February, 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, Papagallos Inc's 2019 payroll expenses are estimated to be at least $1.38M.
Based on their reported 15 jobs retained, this equals an estimated average yearly compensation of $92,256 per employee1
Reported PPP Proceed Usage:
On the PPP application, Papagallos Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $288,300
Business Information - Papagallos Inc in North Swanzey, NH
9 Monadnock Hwy
North Swanzey, NH 3431
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: Rural
Similar Companies near North Swanzey
In the North Swanzey area, 41 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 17 employees (compared to this company's 15) and received an average PPP loan of $105,114 (compared to this company's $288,300).
Similar Nearby Businesses Who Received PPP Funding:
Stage Hands Corp
Keene, NH
Culinary Journey Management Corp
Keene, NH
Pedrazas, LLC
Keene, NH
Tokyo Express LLC
Keene, NH
Mohammed Waheed Ali
Keene, NH
Fletcher Stubbs Inc
Keene, NH
Timoleons Inc
Keene, NH
Mi Jalisco 2 LLC
Keene, NH
Curry Indian Restaurant And Groceries
Keene, NH
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, 47% higher than Papagallos Inc's reported 15 employees, and received an average PPP loan of $130,209, 55% lower than this company's loan of $288,300.
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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