PPP Loan Data — Pizza Plus Of Hyrum Inc, Providence, UT
Pizza Plus Of Hyrum Inc is a corporation located at 566 S 300 E in Providence, Utah that received a Coronavirus-related PPP loan from the SBA of $45,900.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bank of Utah
Pizza Plus Of Hyrum Inc in Providence, UT received a Paycheck Protection Loan of $45,900 through Bank of Utah, 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 December, 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 Plus Of Hyrum Inc's 2019 payroll expenses are estimated to be at least $220,320.
Based on their reported 28 jobs retained, this equals an estimated average yearly compensation of $7,869 per employee1
Reported PPP Proceed Usage:
On the PPP application, Pizza Plus Of Hyrum Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $36,720
- Utilities: $1,180
- Mortgage Interest: $8,000
Business Information - Pizza Plus Of Hyrum Inc in Providence, UT
566 S 300 E
Providence, UT 84332
NAICS code 722511
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Providence
In the Providence area, 5 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 28 employees (compared to this company's 28) and received an average PPP loan of $108,886 (compared to this company's $45,900).
Similar Nearby Businesses Who Received PPP Funding:
Pizza Plus Of Tremonton Inc
C. Obray Enterprises, Inc
Matthew D. Bentley
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, 21% lower than Pizza Plus Of Hyrum Inc's reported 28 employees, and received an average PPP loan of $129,504, 182% higher than this company's loan of $45,900.
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Footnotes & Information
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