PPP Loan Data — Paul's Grill Inc, Watertown, MA
Paul's Grill Inc is a corporation located at 821 Mt Auburn St in Watertown, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $45,787.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least eighteen people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Watertown Savings Bank
Paul's Grill Inc in Watertown, MA received a Paycheck Protection Loan of $45,787 through Watertown Savings Bank, which was approved in April, 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
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, Paul's Grill Inc's 2019 payroll expenses are estimated to be at least $219,778.
Based on their reported 18 jobs retained, this equals an estimated average yearly compensation of $12,210 per employee1
Reported PPP Proceed Usage:
On the PPP application, Paul's Grill Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $45,787
Business Information - Paul's Grill Inc in Watertown, MA
821 Mt Auburn St
Watertown, MA 2472
NAICS code 722511
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Watertown
In the Watertown area, 67 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 16 employees (compared to this company's 18) and received an average PPP loan of $83,699 (compared to this company's $45,787).
Similar Nearby Businesses Who Received PPP Funding:
Chen Cuisine Factory Inc
Pure Italian LLC
Paul's Grille Inc
Wake Me Up Inc
Celebrity Pizza, Inc
Fava Bean LLC
China Rainbow Inc
Bottleneck Watertown LLC
Industry PPP Comparison Statistics
Nationwide, 328,914 businesses in the "Full-Service Restaurants" industry received a total of $42.6B 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, 22% higher than Paul's Grill Inc's reported 18 employees, and received an average PPP loan of $129,504, 183% higher than this company's loan of $45,787.
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