PPP Loan Data — Rmls Hop Okc, LLC, Phoenix, AZ
Rmls Hop Okc, LLC is a limited liability company (LLC) located at 1048 N. 44th Street Suite 210 in Phoenix, Arizona that received a Coronavirus-related PPP loan from the SBA of $1,870,700.00 in April, 2020. This business is a IHOP franchise.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Lake Forest Bank & Trust Company, National Association
Rmls Hop Okc, LLC in Phoenix, AZ received a Paycheck Protection Loan of $1.87M through Lake Forest Bank & Trust Company, National Association, 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 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, Rmls Hop Okc, LLC's 2019 payroll expenses are estimated to be at least $8.98M.
Based on their reported 250 jobs retained, this equals an estimated average yearly compensation of $35,917 per employee1
Reported PPP Proceed Usage:
On the PPP application, Rmls Hop Okc, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,403,025
- Rent: $467,675
Business Information - Rmls Hop Okc, LLC in Phoenix, AZ
1048 N. 44th Street Suite 210
Phoenix, AZ 85008
NAICS code 722511
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Phoenix
In the Phoenix area, 75 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 49 employees (compared to this company's 250) and received an average PPP loan of $335,361 (compared to this company's $1.87M).
Similar Nearby Businesses Who Received PPP Funding:
The Breakroom LLC
D & D Star Buffett LLC
Abril Enterprises Inc
Sushi Sonora 2 LLC
MGS Restaurants Inc
Industry PPP Comparison Statistics
Nationwide, 328,914 businesses in the "Full-Service Restaurants" industry received a total of $42.6B 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, 91% lower than Rmls Hop Okc, LLC's reported 250 employees, and received an average PPP loan of $129,504, 93% lower than this company's loan of $1.87M.
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Footnotes & Information
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