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PPP Loan Data — Quality Huts Midwest, LLC, Raleigh, NC

SBA PPP loan data, payroll data, and salaries for Quality Huts Midwest, LLC
NC

Quality Huts Midwest, LLC

Entity: Limited Liability Company (LLC)

Industry: Limited-Service Restaurants

Location: Raleigh, NC

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Quality Huts Midwest, LLC is a limited liability company (LLC) located at 4700 Falls Of Neuse Road in Raleigh, North Carolina that received a Coronavirus-related PPP loan from the SBA of $2,931,966.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.93M

Jobs Retained:

200

Loan Approved:

2020-04-07

Lender:

THE HUNTINGTON NATIONAL BANK

Quality Huts Midwest, LLC received a Paycheck Protection Loan of $2.93M through THE HUNTINGTON NATIONAL BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Quality Huts Midwest, LLC's total 2019 payroll expenses were approximately $14.07M in order to qualify for the PPP loan amount received.

Based on their reported 200 jobs retained, this equals an estimated average yearly compensation of $70,367 per employee1.

Because the loan received by Quality Huts Midwest, LLC is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Quality Huts Midwest, LLC in Raleigh, NC

Quality Huts Midwest, LLC
4700 Falls Of Neuse Road
Raleigh, NC 27609

Business Industry

Limited-Service Restaurants (NAICS code 722513)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: NC-04

Similar Companies near Raleigh

In the Raleigh area, 26 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 161 employees (compared to this company's 200) and received an average PPP loan of $1,333,545 (compared to this company's $2.93M).

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, 89% lower than Quality Huts Midwest, LLC's reported 200 employees, and received an average PPP loan of $120,904, 96% lower than this company's loan of $2.93M.

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.

Search FederalPay's Full PPP Loan Database

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/quality-huts-midwest-llc-raleigh-nc