PPP Loan Data — Salt & Straw, LLC, Portland, OR
Salt & Straw, LLC is a limited liability company (LLC) located at 110 Se 2nd Ave in Portland, Oregon that received a Coronavirus-related PPP loan from the SBA of $4,576,600.00 in April, 2020.
The company has reported itself as a White female owned business, and employed at least 34 people during the applicable loan loan period.
$ PPP Loan Information
Lender:ZIONS BANK, A DIVISION OF
Salt & Straw, LLC received a Paycheck Protection Loan of $4.58M through ZIONS BANK, A DIVISION OF, which was approved in April, 2020.
The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 34 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.
2019 Payroll Estimations based On PPP Amount:
Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 220.
Based on standard PPP eligibility rules, Salt & Straw, LLC's total 2019 payroll expenses were approximately $21.97M (not accounting for salary amounts > $100k) in order to qualify for the PPP loan amount received.
Because the 34 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Business Information - Salt & Straw, LLC in Portland, OR
110 Se 2nd Ave
Portland, OR 97214
Limited-Service Restaurants (NAICS code 722513)
Business Owner Demographics
Race / Ethnicity: WHITE
Gender: FEMALE OWNED
Veteran Status: NON-VETERANCongressional District: OR-03
Similar Companies near Portland
In the Portland area, 54 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 19 employees (compared to this company's 34) and received an average PPP loan of $217,392 (compared to this company's $4.58M).
Similar Nearby Businesses Who Received PPP Funding:
Zachs Shack Inc
Thomas Uchida LLC
Double D Sandwiches LLC
Hot Lips Pizza Inc
La Panza LLC
Golden Oven LLC
Las Wings Gresham LLC
Industry PPP Comparison Statistics
Nationwide, 79,996 businesses in the "Limited-Service Restaurants" industry received a total of $9,671,819,152.00 in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 23 employees, 32% lower than Salt & Straw, LLC's reported 34 employees, and received an average PPP loan of $120,904, 97% lower than this company's loan of $4.58M.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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