PPP Loan Data — Sizzle Pie Empire, Portland, OR
Sizzle Pie Empire is a limited liability company (LLC) located at 3439 Ne Sandy Blvd, 279 in Portland, Oregon that received a Coronavirus-related PPP loan from the SBA of $1,703,472.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Sizzle Pie Empire in Portland, OR received a Paycheck Protection Loan of $1.7M through Heritage Bank, which was approved in April, 2020.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 82. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
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, Sizzle Pie Empire's 2019 payroll expenses are estimated to be at least $8.18M (not accounting for salary amounts > $100k).
Because the 55 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, Sizzle Pie Empire reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,703,472
Business Information - Sizzle Pie Empire in Portland, OR
3439 Ne Sandy Blvd, 279
Portland, OR 97232
NAICS code 722511
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Portland
In the Portland area, 97 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 19 employees (compared to this company's 55) and received an average PPP loan of $129,127 (compared to this company's $1.7M).
Similar Nearby Businesses Who Received PPP Funding:
Black Water LLC
Bluefin Hollywood Corporation
Favorite Foods International Inc
Kams Fine Foods Inc
Chestbump Unlimited LLC
Oleg Investment Inc
Peter Chulmin Yoo
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, 60% lower than Sizzle Pie Empire's reported 55 employees, and received an average PPP loan of $129,504, 92% lower than this company's loan of $1.7M.
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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