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

PPP Loan Data — Poor Reds LLC, El Dorado, CA

ALERT: There are 2 PPP loans for a total of $641,325 in our database for businesses with the name "Poor Reds LLC" in El Dorado, CA. 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 Poor Reds LLC
CA

Poor Reds LLC

Entity: Limited Liability Company (LLC)

Industry: Full-Service Restaurants

Location: El Dorado, CA

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Poor Reds LLC is a limited liability company (LLC) located at 6221 Pleasant Valley Rd in El Dorado, California that received a Coronavirus-related PPP loan from the SBA of $374,106.00 in January, 2021.

The company has reported itself as a male owned business, and employed at least 44 people during the applicable loan loan period.

$ PPP Loan Information
Loan #2219128300

Loan Size:

$374,106

Jobs Retained:

44

Loan Approved:

2021-01-20

Loan Status:

Paid in Full or Forgiven

Lender:

River City Bank

Poor Reds LLC in El Dorado, CA received a Paycheck Protection Loan of $374,106 through River City Bank, which was approved in January, 2021.

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 September, 2021.

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, Poor Reds LLC's 2019 payroll expenses are estimated to be at least $1.8M.

Based on their reported 44 jobs retained, this equals an estimated average yearly compensation of $40,812 per employee1

Reported PPP Proceed Usage:

On the PPP application, Poor Reds LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $374,102
  • Utilities: $1

Business Information - Poor Reds LLC in El Dorado, CA

Poor Reds LLC
6221 Pleasant Valley Rd
El Dorado, CA 95623

Business Industry:
Full-Service Restaurants
NAICS code 722511

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

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: Rural

El Dorado County, CA — SBA Office 0931 — Congressional District: CA-04

Similar Companies near El Dorado

In the El Dorado area, 58 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 25 employees (compared to this company's 44) and received an average PPP loan of $95,332 (compared to this company's $374,106).

Industry PPP Comparison Statistics

Nationwide, 326,480 businesses in the "Full-Service Restaurants" industry received a total of $42.51B 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, 50% lower than Poor Reds LLC's reported 44 employees, and received an average PPP loan of $130,209, 65% lower than this company's loan of $374,106.

SBA PPP loan data, payroll data, and salaries for Poor Red's, LLC
CA

Poor Red's, LLC

Entity: Limited Liability Company (LLC)

Industry: Full-Service Restaurants

Location: El Dorado, CA

Search All PPP Data

Poor Red's, LLC is a limited liability company (LLC) located at 6221 Pleasant Valley Rd in El Dorado, California that received a Coronavirus-related PPP loan from the SBA of $267,219.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least 40 people during the applicable loan loan period.

$ PPP Loan Information
Loan #6020167208

Loan Size:

$267,219

Jobs Retained:

40

Loan Approved:

2020-04-27

Loan Status:

Paid in Full or Forgiven

Lender:

River City Bank

Poor Red's, LLC in El Dorado, CA received a Paycheck Protection Loan of $267,219 through River City Bank, 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 April, 2021.

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, Poor Red's, LLC's 2019 payroll expenses are estimated to be at least $1.28M.

Based on their reported 40 jobs retained, this equals an estimated average yearly compensation of $32,066 per employee1

Reported PPP Proceed Usage:

On the PPP application, Poor Red's, LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $267,219

Business Information - Poor Red's, LLC in El Dorado, CA

Poor Red's, LLC
6221 Pleasant Valley Rd
El Dorado, CA 95623

Business Industry:
Full-Service Restaurants
NAICS code 722511

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age:

LMI Zone: N

HUBZone: N

Rural / Urban: Rural

El Dorado County, CA — SBA Office 0931 — Congressional District: CA-04

Similar Companies near El Dorado

In the El Dorado area, 58 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 25 employees (compared to this company's 40) and received an average PPP loan of $95,332 (compared to this company's $267,219).

Industry PPP Comparison Statistics

Nationwide, 326,480 businesses in the "Full-Service Restaurants" industry received a total of $42.51B 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, 45% lower than Poor Red's, LLC's reported 40 employees, and received an average PPP loan of $130,209, 51% lower than this company's loan of $267,219.

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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Source: www.federalpay.org/paycheck-protection-program/poor-reds-llc-el-dorado-ca