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PPP Loan Data — Quality Fresca I LLC,
Greensboro, NC
FRANCHISE
NCQuality Fresca I LLC
Entity: Limited Liability Company (LLC)
Industry: Limited-Service Restaurants
Franchise: Moe's Southwest Grill
Location: Greensboro, NC
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Quality Fresca I LLC is a limited liability company (LLC) located at 629 Green Valley Rd Ste 302 in Greensboro, North Carolina that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in March, 2021. This business is a Moe's Southwest Grill franchise.
$
PPP Loan Information
Loan #9466258608
Loan Size:
Jobs Retained:
299Loan Approved:
2021-03-26Loan Status:
Paid in Full or ForgivenLender:
PNC Bank, National AssociationQuality Fresca I LLC in Greensboro, NC received a Paycheck Protection Loan of $2M through PNC Bank, National Association, which was approved in March, 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 May, 2022.
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 MoreUnderstanding 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 MoreBased 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, Quality Fresca I LLC's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 299 jobs retained, this equals an estimated average yearly compensation of $32,107 per employee1
Reported PPP Proceed Usage:
On the PPP application, Quality Fresca I LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,999
Business Information - Quality Fresca I LLC in Greensboro, NC
629 Green Valley Rd Ste 302
Greensboro, NC 27408
Business Industry:
Limited-Service Restaurants
NAICS code 722513
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Greensboro
In the Greensboro area, 59 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 21 employees (compared to this company's 299) and received an average PPP loan of $89,375 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
JAY Kaival Krupa, Inc
Greensboro, NC
Vanloi BBQ , Inc
Greensboro, NC
CB Crabtree Inc
Greensboro, NC
CB South Point LLC
Greensboro, NC
Cook Out - High Point RD Inc
Greensboro, NC
Robert Skeel
Greensboro, NC
Dairy Delight LLC
Greensboro, NC
DEV Stuti, LLC
Greensboro, NC
Kush Donuts, LLC
Greensboro, NC
Industry PPP Comparison Statistics
Nationwide, 136,545 businesses in the "Limited-Service Restaurants" industry received a total of $13.87B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 21 employees, 93% lower than Quality Fresca I LLC's reported 299 employees, and received an average PPP loan of $101,556, 95% lower than this company's loan of $2M.
Quality Fresca I LLC
Entity: Limited Liability Company (LLC)
Industry: Limited-Service Restaurants
Location: Greensboro, NC
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Quality Fresca I LLC is a limited liability company (LLC) located at 111 W Lewis Street in Greensboro, North Carolina that received a Coronavirus-related PPP loan from the SBA of $3,904,664.00 in April, 2020.
$
PPP Loan Information
Loan #7320267308
Loan Size:
Jobs Retained:
500Loan Approved:
2020-04-30Loan Status:
Paid in Full or ForgivenLender:
PNC Bank, National AssociationQuality Fresca I LLC in Greensboro, NC received a Paycheck Protection Loan of $3.9M through PNC Bank, National Association, 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 July, 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 MoreUnderstanding 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 MoreBased 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, Quality Fresca I LLC's 2019 payroll expenses are estimated to be at least $18.74M.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $37,485 per employee1
Reported PPP Proceed Usage:
On the PPP application, Quality Fresca I LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Mortgage Interest: $3,804,664
- Rent: $100,000
Business Information - Quality Fresca I LLC in Greensboro, NC
111 W Lewis Street
Greensboro, NC 27406
Business Industry:
Limited-Service Restaurants
NAICS code 722513
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: Y
Rural / Urban: Urban
Businesses Using Same Address:
There is one other business that received a PPP loan registered to the same address as Quality Fresca I LLC.
Logiksavvy Solutions, LLC
Custom Computer Programming Services
Similar Companies near Greensboro
In the Greensboro area, 50 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 34 employees (compared to this company's 500) and received an average PPP loan of $249,229 (compared to this company's $3.9M).
Similar Nearby Businesses Who Received PPP Funding:
DI Dios LLC
Greensboro, NC
Henry James Bar-Be-Que Inc
Greensboro, NC
H & Z Dining Group Inc
Greensboro, NC
Black Powder Smokehouse, LLC
Greensboro, NC
DEV Restaurants, LLC
Greensboro, NC
Sweet Cold Treats LLC
Greensboro, NC
JAY Kaival Krupa, Inc
Greensboro, NC
The Pipe And Pint, Inc
Greensboro, NC
CB Four Seasons Inc
Greensboro, NC
Industry PPP Comparison Statistics
Nationwide, 136,545 businesses in the "Limited-Service Restaurants" industry received a total of $13.87B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 21 employees, 96% lower than Quality Fresca I LLC's reported 500 employees, and received an average PPP loan of $101,556, 97% lower than this company's loan of $3.9M.
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.
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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