PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Phoenix Project Cincinnati LLC, Cincinnati, OH

ALERT: There are 2 PPP loans for a total of $2.81M in our database for businesses with the name "Phoenix Project Cincinnati LLC" in Cincinnati, OH. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Phoenix Project Cincinnati LLC
OH

Phoenix Project Cincinnati LLC

Entity: Limited Liability Company (LLC)

Industry: Full-Service Restaurants

Location: Cincinnati, OH

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Phoenix Project Cincinnati LLC is a limited liability company (LLC) located at 114 E 6th St in Cincinnati, Ohio that received a Coronavirus-related PPP loan from the SBA of $1,639,725.00 in January, 2021.

$ PPP Loan Information
Loan #7337378309

Loan Size:

$1.64M

Jobs Retained:

153

Loan Approved:

2021-01-28

Loan Status:

Ongoing Loan

Lender:

Fifth Third Bank

Phoenix Project Cincinnati LLC in Cincinnati, OH received a Paycheck Protection Loan of $1.64M through Fifth Third Bank, which was approved in January, 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 More
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.

Read More

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, Phoenix Project Cincinnati LLC's 2019 payroll expenses are estimated to be at least $7.87M.

Based on their reported 153 jobs retained, this equals an estimated average yearly compensation of $51,442 per employee1

Reported PPP Proceed Usage:

On the PPP application, Phoenix Project Cincinnati LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,639,720
  • Utilities: $1

Business Information - Phoenix Project Cincinnati LLC in Cincinnati, OH

Phoenix Project Cincinnati LLC
114 E 6th St
Cincinnati, OH 45202

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

Hamilton County, OH — SBA Office 0593 — Congressional District: OH-01

Similar Companies near Cincinnati

In the Cincinnati area, 131 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 33 employees (compared to this company's 153) and received an average PPP loan of $226,360 (compared to this company's $1.64M).

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, 86% lower than Phoenix Project Cincinnati LLC's reported 153 employees, and received an average PPP loan of $129,504, 92% lower than this company's loan of $1.64M.

SBA PPP loan data, payroll data, and salaries for Phoenix Project Cincinnati, LLC
OH

Phoenix Project Cincinnati, LLC

Entity: Limited Liability Company (LLC)

Industry: Full-Service Restaurants

Location: Cincinnati, OH

Search All PPP Data

Phoenix Project Cincinnati, LLC is a limited liability company (LLC) located at 600 Walnut St in Cincinnati, Ohio that received a Coronavirus-related PPP loan from the SBA of $1,171,300.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least 153 people during the applicable loan loan period.

$ PPP Loan Information
Loan #4538747004

Loan Size:

$1.17M

Jobs Retained:

153

Loan Approved:

2020-04-03

Loan Status:

Ongoing Loan

Lender:

First Savings Bank

Phoenix Project Cincinnati, LLC in Cincinnati, OH received a Paycheck Protection Loan of $1.17M through First 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

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 More
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.

Read More

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, Phoenix Project Cincinnati, LLC's 2019 payroll expenses are estimated to be at least $5.62M.

Based on their reported 153 jobs retained, this equals an estimated average yearly compensation of $36,747 per employee1

Reported PPP Proceed Usage:

On the PPP application, Phoenix Project Cincinnati, LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $790,628
  • Utilities: $58,564
  • Rent: $234,260
  • Health Care: $87,848

Business Information - Phoenix Project Cincinnati, LLC in Cincinnati, OH

Phoenix Project Cincinnati, LLC
600 Walnut St
Cincinnati, OH 45202

Business Industry:
Full-Service Restaurants
NAICS code 722511

Business Owner Demographics

Race: Unreported

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Hamilton County, OH — SBA Office 0593 — Congressional District: OH-01

Similar Companies near Cincinnati

In the Cincinnati area, 131 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 33 employees (compared to this company's 153) and received an average PPP loan of $226,360 (compared to this company's $1.17M).

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, 86% lower than Phoenix Project Cincinnati, LLC's reported 153 employees, and received an average PPP loan of $129,504, 89% lower than this company's loan of $1.17M.

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/phoenix-project-cincinnati-llc-cincinnati-oh