PPP Loan Data — Sorrento Cucina Due Inc, Minneapolis, MN
Sorrento Cucina Due Inc is a corporation located at 200 5th St S in Minneapolis, Minnesota that received a Coronavirus-related PPP loan from the SBA of $6,065.00 in May, 2020.
$ PPP Loan Information
Lender:U.S. BANK, NATIONAL ASSOCIATION
Sorrento Cucina Due Inc received a Paycheck Protection Loan of $6,065 through U.S. BANK, NATIONAL ASSOCIATION, which was approved in May, 2020.
Based on standard PPP eligibility rules, Sorrento Cucina Due Inc's total 2019 payroll expenses were approximately $29,112 in order to qualify for the PPP loan amount received.
Based on their reported 1 jobs retained, this equals an estimated average yearly compensation of $29,112 per employee1.
Business Information - Sorrento Cucina Due Inc in Minneapolis, MN
200 5th St S
Minneapolis, MN 55402
Full-Service Restaurants (NAICS code 722511)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: MN-05
Similar Companies near Minneapolis
In the Minneapolis area, 102 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 35 employees (compared to this company's 1) and received an average PPP loan of $278,882 (compared to this company's $6,065).
Similar Nearby Businesses Who Received PPP Funding:
Dong Hae Korean Grill & Sushi LLC
Barnhouse Corporation DBA Dave's Downtown
Soigne Hospitality LLC
Markus 1 LLC
Snack Bar, LLC
Pizza Luce IX, Inc
Sorrento Pizza And Pasta Inc
Industry PPP Comparison Statistics
Nationwide, 175,054 businesses in the "Full-Service Restaurants" industry received a total of $20,426,260,320.00 in PPP loans. These businesses account for 3% of total PPP applications submitted, and received 4% of the total PPP funding allocated.
PPP recipients in this industry report an average of 20 employees, 1900% higher than Sorrento Cucina Due Inc's reported 1 employees, and received an average PPP loan of $116,685, 1824% higher than this company's loan of $6,065.
FederalPay's PPP Information Policy
Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.
All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
Footnotes & Information
1. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.
2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.
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