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PPP Loan Data — Pizza Luce VI, Inc, Minneapolis, MN

SBA PPP loan data, payroll data, and salaries for Pizza Luce VI, Inc
MN

Pizza Luce VI, Inc

Entity: Subchapter S Corporation

Industry: Full-Service Restaurants

Location: Minneapolis, MN

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Pizza Luce VI, Inc is a subchapter s corporation located at 401 2nd Ave #210 in Minneapolis, Minnesota that received a Coronavirus-related PPP loan from the SBA of $567,600.00 in April, 2020.

The company has reported itself as a White male owned business, and employed at least 70 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$567,600

Jobs Retained:

70

Loan Approved:

2020-04-14

Lender:

SUNRISE BANKS, NATIONAL ASSOCIATION

Pizza Luce VI, Inc received a Paycheck Protection Loan of $567,600 through SUNRISE BANKS, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Pizza Luce VI, Inc's total 2019 payroll expenses were approximately $2.72M in order to qualify for the PPP loan amount received.

Based on their reported 70 jobs retained, this equals an estimated average yearly compensation of $38,921 per employee1.

Business Information - Pizza Luce VI, Inc in Minneapolis, MN

Pizza Luce VI, Inc
401 2nd Ave #210
Minneapolis, MN 55401

Business Industry

Full-Service Restaurants (NAICS code 722511)

Business Owner Demographics

Race / Ethnicity: WHITE

Gender: MALE OWNED

Veteran Status: NON-VETERAN

Congressional District: MN-05

Similar Companies near Minneapolis

In the Minneapolis area, 81 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 34 employees (compared to this company's 70) and received an average PPP loan of $288,153 (compared to this company's $567,600).

Industry PPP Comparison Statistics

Nationwide, 175,054 businesses in the "Full-Service Restaurants" industry received a total of $20,426,260,320.00 in PPP loans. These businesses account for 3% of total PPP applications submitted, and received 4% of the total PPP funding allocated.

PPP recipients in this industry report an average of 20 employees, 71% lower than Pizza Luce VI, Inc's reported 70 employees, and received an average PPP loan of $116,685, 79% lower than this company's loan of $567,600.

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.

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Footnotes & Information

1. 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/pizza-luce-vi-inc-minneapolis-mn