PPP Loan Data — Pizza Luce II, Inc, Minneapolis, MN
Pizza Luce II, Inc is a corporation located at 401 2nd Ave #210 in Minneapolis, Minnesota that received a Coronavirus-related PPP loan from the SBA of $466,100.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 58 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Sunrise Banks, National Association
Pizza Luce II, Inc in Minneapolis, MN received a Paycheck Protection Loan of $466,100 through Sunrise Banks, National Association, 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, Pizza Luce II, Inc's 2019 payroll expenses are estimated to be at least $2.24M.
Based on their reported 58 jobs retained, this equals an estimated average yearly compensation of $38,574 per employee1
Reported PPP Proceed Usage:
On the PPP application, Pizza Luce II, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $466,100
Business Information - Pizza Luce II, Inc in Minneapolis, MN
401 2nd Ave #210
Minneapolis, MN 55401
NAICS code 722511
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Minneapolis
In the Minneapolis area, 140 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 38 employees (compared to this company's 58) and received an average PPP loan of $353,704 (compared to this company's $466,100).
Similar Nearby Businesses Who Received PPP Funding:
Freight House, LLC
Northstar Baugus Corporation
Blue Plate Restaurant Company Inc
Stadium Bar And Grill
Toro Restaurant LLC
Restaurant 232 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, 62% lower than Pizza Luce II, Inc's reported 58 employees, and received an average PPP loan of $129,504, 72% lower than this company's loan of $466,100.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!