PPP Loan Data — Piazza Family Restaurants, Inc, Lakewood, CA
Piazza Family Restaurants, Inc is a subchapter s corporation located at 4128 Paramount Blvd Suite B in Lakewood, California that received a Coronavirus-related PPP loan from the SBA of $1,799,500.00 in April, 2020. This business is a McDonalds franchise.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:BMO Harris Bank National Association
Piazza Family Restaurants, Inc in Lakewood, CA received a Paycheck Protection Loan of $1.8M through BMO Harris Bank National Association, 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 June, 2021.
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, Piazza Family Restaurants, Inc's 2019 payroll expenses are estimated to be at least $8.64M.
Based on their reported 455 jobs retained, this equals an estimated average yearly compensation of $18,984 per employee1
Reported PPP Proceed Usage:
On the PPP application, Piazza Family Restaurants, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,799,500
Business Information - Piazza Family Restaurants, Inc in Lakewood, CA
4128 Paramount Blvd Suite B
Lakewood, CA 90712
NAICS code 722511
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Lakewood
In the Lakewood area, 40 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 455) and received an average PPP loan of $158,445 (compared to this company's $1.8M).
Similar Nearby Businesses Who Received PPP Funding:
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Glory Days Sports Grill
Enjay Food Concepts, LLC
Jhke, Inc. DBA California Sushi & Teriyaki #8
Piggies Taco Bar Inc
JJ Louisiana Fish Market, Inc
Mamma's Sushi Restaurant
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, 95% lower than Piazza Family Restaurants, Inc's reported 455 employees, and received an average PPP loan of $129,504, 93% lower than this company's loan of $1.8M.
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Footnotes & Information
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