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PPP Loan Data — Potbelly Sandwich Works, LLC,
Chicago, IL
Potbelly Sandwich Works, LLC
Entity: Limited Liability Company (LLC)
Industry: Limited-Service Restaurants
Location: Chicago, IL
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Potbelly Sandwich Works, LLC is a limited liability company (LLC) located at 111 N. Canal St in Chicago, Illinois that received a Coronavirus-related PPP loan from the SBA of $10,000,000.00 in August, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
500Loan Approved:
2020-08-07Lender:
HARVEST SMALL BUSINESS FINANCE, LLCPotbelly Sandwich Works, LLC in Chicago, IL received a Paycheck Protection Loan of $10M through HARVEST SMALL BUSINESS FINANCE, LLC, which was approved in August, 2020.
Based on standard PPP eligibility rules, Potbelly Sandwich Works, LLC's total 2019 payroll expenses were approximately $48M in order to qualify for the PPP loan amount received.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $96,000 per employee1.
Business Information - Potbelly Sandwich Works, LLC in Chicago, IL
111 N. Canal St
Chicago, IL 60606
Business Industry
Limited-Service Restaurants (NAICS code 722513)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: IL-07Similar Companies near Chicago
In the Chicago area, 67 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 33 employees (compared to this company's 500) and received an average PPP loan of $299,494 (compared to this company's $10M).
Similar Nearby Businesses Who Received PPP Funding:
Nohea Cafe, LLC
Chicago, IL
International Sandwich Shop 2
Chicago, IL
Seva Companies LLC Financial Place
Chicago, IL
The Break Deli
Chicago, IL
JAI Jaliyaan Inc
Chicago, IL
West Loop F&B, LLC
Chicago, IL
Mahant Inc
Chicago, IL
Burger Empire LLC
Chicago, IL
YOG Guru Inc
Chicago, IL
Industry PPP Comparison Statistics
Nationwide, 79,996 businesses in the "Limited-Service Restaurants" industry received a total of $9,671,819,152.00 in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 23 employees, 95% lower than Potbelly Sandwich Works, LLC's reported 500 employees, and received an average PPP loan of $120,904, 99% lower than this company's loan of $10M.
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, and is published unmodified, as provided by the SBA.
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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