PPP Loan Data — Seaman Restaurant Corporation, Salem, OR
Seaman Restaurant Corporation is a subchapter s corporation located at 2791 19th Street Se in Salem, Oregon that received a Coronavirus-related PPP loan from the SBA of $2,238,200.00 in April, 2020. This business is a McDonalds franchise.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bremer Bank, National Association
Seaman Restaurant Corporation in Salem, OR received a Paycheck Protection Loan of $2.24M through Bremer Bank, National Association, which was approved in April, 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, Seaman Restaurant Corporation's 2019 payroll expenses are estimated to be at least $10.74M.
Based on their reported 364 jobs retained, this equals an estimated average yearly compensation of $29,515 per employee1
Reported PPP Proceed Usage:
On the PPP application, Seaman Restaurant Corporation reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,238,200
Business Information - Seaman Restaurant Corporation in Salem, OR
2791 19th Street Se
Salem, OR 97302
NAICS code 722513
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Salem
In the Salem area, 64 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 20 employees (compared to this company's 364) and received an average PPP loan of $133,477 (compared to this company's $2.24M).
Similar Nearby Businesses Who Received PPP Funding:
Sweet Lee LLC
V4 Enterprises LLC
The Governors Cup Inc
Melting Assets, Inc
Dreaming Of Sushi, LLC
Sand Express LLC
Capitol Coffee LLC
Don Pedro Mayor LLC
Industry PPP Comparison Statistics
Nationwide, 137,629 businesses in the "Limited-Service Restaurants" industry received a total of $13.9B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 21 employees, 94% lower than Seaman Restaurant Corporation's reported 364 employees, and received an average PPP loan of $100,980, 95% lower than this company's loan of $2.24M.
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Footnotes & Information
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