PPP Loan Data — P.f. Chang's China Bistro, Inc, Scottsdale, AZ

P.f. Chang's China Bistro, Inc

Entity: Corporation

Industry: Full-Service Restaurants

Location: Scottsdale, AZ

P.f. Chang's China Bistro, Inc is a corporation located at 8377 E Hartford Dr Ste 200 in Scottsdale, Arizona that received a Coronavirus-related PPP loan from the SBA of $10,000,000.00 in April, 2020.

$ PPP Loan Information
Loan #6149107104

Loan Size:

$10M

Jobs Retained:

500

Loan Approved:

2020-04-14

Loan Status:

Paid in Full or Forgiven

Lender:

Newtek Small Business Finance, Inc.

P.f. Chang's China Bistro, Inc in Scottsdale, AZ received a Paycheck Protection Loan of $10M through Newtek Small Business Finance, Inc., 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, 2022.

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.

Understanding 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.

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, P.f. Chang's China Bistro, Inc's 2019 payroll expenses are estimated to be at least $48M.

Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $96,000 per employee¹

Reported PPP Proceed Usage:

On the PPP application, P.f. Chang's China Bistro, Inc reported intending to use the proceeds of their PPP loan for the following expenses:

Payroll: $10,000,000

Because the loan received by P.f. Chang's China Bistro, Inc is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - P.f. Chang's China Bistro, Inc in Scottsdale, AZ

P.f. Chang's China Bistro, Inc
8377 E Hartford Dr Ste 200
Scottsdale, AZ 85255

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

Maricopa County, AZ — SBA Office 0988 — Congressional District: AZ-01

Similar Companies near Scottsdale

In the Scottsdale area, 139 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 39 employees (compared to this company's 500) and received an average PPP loan of $262,181 (compared to this company's $10M).

Similar Nearby Businesses Who Received PPP Funding:

Manna Inc
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$4,622 PPP Loan

We Begg To Differ LLC
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$131,700 PPP Loan

Tutti Santi II LLC
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$196,316 PPP Loan

We Got Rhythm Inc
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$105,413 PPP Loan

Air Cafe, Incorporated
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$27,209 PPP Loan

JBS Restaurant LLC
Scottsdale, AZ

$18,296 PPP Loan

Good Guys Consulting LLC
Scottsdale, AZ

$29,166 PPP Loan

Kim Munawwar, LLC
Scottsdale, AZ

$17,000 PPP Loan

Eighty-Sixed LLC
Scottsdale, AZ

$90,879 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 326,443 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, 96% lower than P.f. Chang's China Bistro, Inc's reported 500 employees, and received an average PPP loan of $130,215, 99% lower than this company's loan of $10M.

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.

Search FederalPay's Full PPP Loan Database

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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