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PPP Loan Data — Redstone American Grill, Inc., Eden Prairie, MN

SBA PPP loan data, payroll data, and salaries for Redstone American Grill, Inc.
MN

Redstone American Grill, Inc.

Entity: Corporation

Industry: Full-Service Restaurants

Location: Eden Prairie, MN

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Redstone American Grill, Inc. is a corporation located at 7636 Executive Dr in Eden Prairie, Minnesota that received a Coronavirus-related PPP loan from the SBA of $4,838,802.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$4.84M

Jobs Retained:

500

Loan Approved:

2020-04-08

Lender:

TRADITION CAPITAL BANK

Redstone American Grill, Inc. in Eden Prairie, MN received a Paycheck Protection Loan of $4.84M through TRADITION CAPITAL BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Redstone American Grill, Inc.'s total 2019 payroll expenses were approximately $23.23M 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 $46,453 per employee1.

Because the loan received by Redstone American Grill, Inc. 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 - Redstone American Grill, Inc. in Eden Prairie, MN

Redstone American Grill, Inc.
7636 Executive Dr
Eden Prairie, MN 55344

Business Industry

Full-Service Restaurants (NAICS code 722511)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MN-03

Similar Companies near Eden Prairie

In the Eden Prairie area, 56 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 64 employees (compared to this company's 500) and received an average PPP loan of $515,358 (compared to this company's $4.84M).

Industry PPP Comparison Statistics

Nationwide, 175,054 businesses in the "Full-Service Restaurants" industry received a total of $20,426,260,320.00 in PPP loans. These businesses account for 3% of total PPP applications submitted, and received 4% of the total PPP funding allocated.

PPP recipients in this industry report an average of 20 employees, 96% lower than Redstone American Grill, Inc.'s reported 500 employees, and received an average PPP loan of $116,685, 98% lower than this company's loan of $4.84M.

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.

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/redstone-american-grill-inc-eden-prairie-mn