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PPP Loan Data — Rewarding Solutions LLC,
Santa Fe, NM
Rewarding Solutions LLC
Entity: Limited Liability Company (LLC)
Industry: Full-Service Restaurants
Location: Santa Fe, NM
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Rewarding Solutions LLC is a limited liability company (LLC) located at 730 Saint Michaels Dr in Santa Fe, New Mexico that received a Coronavirus-related PPP loan from the SBA of $198,597.00 in February, 2021.
The company has reported itself as a White female owned business, and employed at least 26 people during the applicable loan loan period.
$
PPP Loan Information
Loan #9414488409
Loan Size:
Jobs Retained:
26Loan Approved:
2021-02-17Loan Status:
Ongoing LoanLender:
Century BankRewarding Solutions LLC in Santa Fe, NM received a Paycheck Protection Loan of $198,597 through Century Bank, which was approved in February, 2021.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Rewarding Solutions LLC's 2019 payroll expenses are estimated to be at least $953,266.
Based on their reported 26 jobs retained, this equals an estimated average yearly compensation of $36,664 per employee1
Reported PPP Proceed Usage:
On the PPP application, Rewarding Solutions LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $198,592
- Utilities: $1
Business Information - Rewarding Solutions LLC in Santa Fe, NM
730 Saint Michaels Dr
Santa Fe, NM 87505
Business Industry:
Full-Service Restaurants
NAICS code 722511
Business Owner Demographics
Race: White
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: Y
Rural / Urban: Urban
Similar Companies near Santa Fe
In the Santa Fe area, 88 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 23 employees (compared to this company's 26) and received an average PPP loan of $148,781 (compared to this company's $198,597).
Similar Nearby Businesses Who Received PPP Funding:
Victory Baking Company, Inc
Santa Fe, NM
WEN Chen Inc
Santa Fe, NM
Pho Ava Vietnamese Restaurant LLC
Santa Fe, NM
Zolo Mgl Inc
Santa Fe, NM
The New Baking Company LLC
Santa Fe, NM
City Different Enterprises, Inc
Santa Fe, NM
Sopaipilla Factory Of Pojoaque LLC
Santa Fe, NM
Rzig Inc
Santa Fe, NM
H S S Inc
Santa Fe, NM
Industry PPP Comparison Statistics
Nationwide, 326,480 businesses in the "Full-Service Restaurants" industry received a total of $42.51B in PPP loans. These businesses account for 3% of total PPP applications submitted, and received 5% of the total PPP funding allocated.
PPP recipients in this industry report an average of 22 employees, 15% lower than Rewarding Solutions LLC's reported 26 employees, and received an average PPP loan of $130,209, 34% lower than this company's loan of $198,597.
Rewarding Solutions LLC
Entity: Limited Liability Company (LLC)
Industry: Full-Service Restaurants
Location: Santa Fe, NM
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Rewarding Solutions LLC is a limited liability company (LLC) located at 223 N Guadalupe St in Santa Fe, New Mexico that received a Coronavirus-related PPP loan from the SBA of $141,855.00 in April, 2020.
The company has reported itself as a White female owned business, and employed at least 26 people during the applicable loan loan period.
$
PPP Loan Information
Loan #6132127310
Loan Size:
Jobs Retained:
26Loan Approved:
2020-04-30Loan Status:
Paid in Full or ForgivenLender:
Century BankRewarding Solutions LLC in Santa Fe, NM received a Paycheck Protection Loan of $141,855 through Century Bank, which was approved in April, 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 April, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Rewarding Solutions LLC's 2019 payroll expenses are estimated to be at least $680,904.
Based on their reported 26 jobs retained, this equals an estimated average yearly compensation of $26,189 per employee1
Reported PPP Proceed Usage:
On the PPP application, Rewarding Solutions LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $141,855
Business Information - Rewarding Solutions LLC in Santa Fe, NM
223 N Guadalupe St
Santa Fe, NM 87501
Business Industry:
Full-Service Restaurants
NAICS code 722511
Business Owner Demographics
Race: White
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age:
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Businesses Using Same Address:
There are 5 other businesses that received a PPP loan registered to the same address as Rewarding Solutions LLC.
Poetic Threads
Women's, Children's, and Infants' Clothing and Accessories Merchant Wholesalers
Native Development Associates Inc
American Indian and Alaska Native Tribal Governments
Robert Neal Stivers
Independent Artists, Writers, and Performers
Premier Appliance LLC
Appliance Repair and Maintenance
Raton Natural Gas Company
Natural Gas Distribution
Similar Companies near Santa Fe
In the Santa Fe area, 124 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 25 employees (compared to this company's 26) and received an average PPP loan of $201,433 (compared to this company's $141,855).
Similar Nearby Businesses Who Received PPP Funding:
Agave Santa Fe LLC
Santa Fe, NM
Morales-Kratzer Inc
Santa Fe, NM
Crossroads Aging Care Professionals, LLC
Santa Fe, NM
The Guadalupe Cafe, Inc
Santa Fe, NM
Plaza Restaurant LLC
Santa Fe, NM
Guadalupe Cafe/Pink Adobe Restaurant
Santa Fe, NM
Santa Fe Tea House
Santa Fe, NM
Locavore, LLC
Santa Fe, NM
22Skidoocorp
Santa Fe, NM
Industry PPP Comparison Statistics
Nationwide, 326,480 businesses in the "Full-Service Restaurants" industry received a total of $42.51B in PPP loans. These businesses account for 3% of total PPP applications submitted, and received 5% of the total PPP funding allocated.
PPP recipients in this industry report an average of 22 employees, 15% lower than Rewarding Solutions LLC's reported 26 employees, and received an average PPP loan of $130,209, 8% lower than this company's loan of $141,855.
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. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
Footnotes & Information
1. Estimations for informational purposes only. 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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