PPP Loan Data — Paradise Entertainment Group Inc, Atlanta, GA
Paradise Entertainment Group Inc is a corporation located at 241 Forsyth St in Atlanta, Georgia that received a Coronavirus-related PPP loan from the SBA of $550,503.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Truist Bank d/b/a Branch Banking & Trust Co
Paradise Entertainment Group Inc in Atlanta, GA received a Paycheck Protection Loan of $550,503 through Truist Bank d/b/a Branch Banking & Trust Co, which was approved in April, 2020.
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, Paradise Entertainment Group Inc's 2019 payroll expenses are estimated to be at least $2.64M.
Based on their reported 170 jobs retained, this equals an estimated average yearly compensation of $15,544 per employee1
Reported PPP Proceed Usage:
On the PPP application, Paradise Entertainment Group Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $550,503
Business Information - Paradise Entertainment Group Inc in Atlanta, GA
241 Forsyth St
Atlanta, GA 30303
Drinking Places (Alcoholic Beverages)
NAICS code 722410
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Atlanta
In the Atlanta area, 10 businesses in the "Drinking Places (Alcoholic Beverages)" industry received a PPP loan. These local businesses reported an average of 33 employees (compared to this company's 170) and received an average PPP loan of $129,388 (compared to this company's $550,503).
Similar Nearby Businesses Who Received PPP Funding:
The Scene Cafe LLC
Mystery ENT Inc
Pals Restaurant & Lounge
K & Q Entertainments LLC
Dollar Goods Inc
Industry PPP Comparison Statistics
Nationwide, 46,392 businesses in the "Drinking Places (Alcoholic Beverages)" industry received a total of $2.8B 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, 93% lower than Paradise Entertainment Group Inc's reported 170 employees, and received an average PPP loan of $60,256, 89% lower than this company's loan of $550,503.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!