PPP Loan Data — Restaurantconnect, Inc, Austin, TX
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Restaurantconnect, Inc is a corporation located at 14900 Avery Ranch Blvd C200 #145 in Austin, Texas that received a Coronavirus-related PPP loan from the SBA of $25,400.00 in May, 2020.
The company has reported itself as a female owned business, and employed at least three people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bank of America, National Association
Restaurantconnect, Inc in Austin, TX received a Paycheck Protection Loan of $25,400 through Bank of America, National Association, which was approved in May, 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 March, 2021.
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, Restaurantconnect, Inc's 2019 payroll expenses are estimated to be at least $121,920.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,640 per employee1
Reported PPP Proceed Usage:
On the PPP application, Restaurantconnect, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,400
Business Information - Restaurantconnect, Inc in Austin, TX
14900 Avery Ranch Blvd C200 #145
Austin, TX 78717
Computer and Computer Peripheral Equipment and Software Merchant Wholesalers
NAICS code 423430
Business Owner Demographics
Gender: Female Owned
Veteran Status: Non-Veteran
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 4,479 businesses in the "Computer and Computer Peripheral Equipment and Software Merchant Wholesalers" industry received a total of $695.57M in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 12 employees, 300% higher than Restaurantconnect, Inc's reported 3 employees, and received an average PPP loan of $155,296, 511% higher than this company's loan of $25,400.
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Footnotes & Information
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