PPP Loan Data — Rare Cone Creamery, LLC, Mesa, AZ
Rare Cone Creamery, LLC is a limited liability company (LLC) located at 1649 S Stapley Drive 102 in Mesa, Arizona that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:JPMorgan Chase Bank, National Association
Rare Cone Creamery, LLC in Mesa, AZ received a Paycheck Protection Loan of $25,000 through JPMorgan Chase Bank, National Association, which was approved in May, 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, Rare Cone Creamery, LLC's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 12 jobs retained, this equals an estimated average yearly compensation of $10,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Rare Cone Creamery, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $15,000
- Utilities: $2,000
- Rent: $8,000
Business Information - Rare Cone Creamery, LLC in Mesa, AZ
1649 S Stapley Drive 102
Mesa, AZ 85204
NAICS code 722513
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Mesa
In the Mesa area, 37 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 19 employees (compared to this company's 12) and received an average PPP loan of $82,013 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
HG Specialties LLC
DS Enterprises Inc
T And K Corporation
Creme & Chocolats LLC
Desert Firesubs, LLC
Pizza Mart East Mesa LLC
Venezia's New York Style Pizza- Mesa No.2
El Metate Mexican Food
Industry PPP Comparison Statistics
Nationwide, 137,629 businesses in the "Limited-Service Restaurants" industry received a total of $13.9B 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, 75% higher than Rare Cone Creamery, LLC's reported 12 employees, and received an average PPP loan of $100,980, 304% higher than this company's loan of $25,000.
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Footnotes & Information
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