PPP Loan Data — Ruben's Mexican Food, LLC, Baltimore, MD
Ruben's Mexican Food, LLC is a limited liability company (LLC) located at 1043 S Charles St in Baltimore, Maryland that received a Coronavirus-related PPP loan from the SBA of $24,898.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bank of America, National Association
Ruben's Mexican Food, LLC in Baltimore, MD received a Paycheck Protection Loan of $24,898 through Bank of America, National Association, 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, Ruben's Mexican Food, LLC's 2019 payroll expenses are estimated to be at least $119,510.
Based on their reported 7 jobs retained, this equals an estimated average yearly compensation of $17,073 per employee1
Reported PPP Proceed Usage:
On the PPP application, Ruben's Mexican Food, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,898
Business Information - Ruben's Mexican Food, LLC in Baltimore, MD
1043 S Charles St
Baltimore, MD 21230
NAICS code 722511
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Baltimore
In the Baltimore area, 208 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 18 employees (compared to this company's 7) and received an average PPP loan of $112,924 (compared to this company's $24,898).
Similar Nearby Businesses Who Received PPP Funding:
Creole Soul Restaurant Group LLC
Suood Jadoo LLC
Penny Black, Inc
Second Chance Operating Ventures LLC
Sticky Rice MD LLC
Penny Black Baltimore Inc
Papis Tacos LLC
FEI Yuang 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, 214% higher than Ruben's Mexican Food, LLC's reported 7 employees, and received an average PPP loan of $129,504, 420% higher than this company's loan of $24,898.
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Footnotes & Information
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