PPP Loan Data — Ray's Shrimp House, Gary, IN
Ray's Shrimp House is a subchapter s corporation located at 3770 Grant St in Gary, Indiana that received a Coronavirus-related PPP loan from the SBA of $47,022.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Ray's Shrimp House in Gary, IN received a Paycheck Protection Loan of $47,022 through Ponce Bank, 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, Ray's Shrimp House's 2019 payroll expenses are estimated to be at least $225,706.
Based on their reported 13 jobs retained, this equals an estimated average yearly compensation of $17,362 per employee1
Reported PPP Proceed Usage:
On the PPP application, Ray's Shrimp House reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $47,022
Business Information - Ray's Shrimp House in Gary, IN
3770 Grant St
Gary, IN 46408
NAICS code 722513
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Gary
In the Gary area, 15 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 11 employees (compared to this company's 13) and received an average PPP loan of $44,866 (compared to this company's $47,022).
Similar Nearby Businesses Who Received PPP Funding:
Balkan Grill Company
Broadway BBQ Inc
Chuck Wheeler Village Inc
Grant Donuts Inc
Griffith Donuts Inc
Big Daddys Bar-B-Que LLC
JQ Investments LLC
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, 62% higher than Ray's Shrimp House's reported 13 employees, and received an average PPP loan of $100,980, 115% higher than this company's loan of $47,022.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!