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PPP Loan Data — South American Restaurants Corp.,
Guaynabo, PR
South American Restaurants Corp.
Entity: Corporation
Industry: Limited-Service Restaurants
Location: Guaynabo, PR
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South American Restaurants Corp. is a corporation located at 35 Diana St, Amelia Industrial Park in Guaynabo, Puerto Rico that received a Coronavirus-related PPP loan from the SBA of $10,000,000.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
500Loan Approved:
2020-04-12Lender:
BANCO POPULAR DE PUERTO RICOSouth American Restaurants Corp. received a Paycheck Protection Loan of $10M through BANCO POPULAR DE PUERTO RICO, which was approved in April, 2020.
Based on standard PPP eligibility rules, South American Restaurants Corp.'s total 2019 payroll expenses were approximately $48M in order to qualify for the PPP loan amount received.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $96,000 per employee1.
Business Information - South American Restaurants Corp. in Guaynabo, PR
35 Diana St, Amelia Industrial Park
Guaynabo, PR 969
Business Industry
Limited-Service Restaurants (NAICS code 722513)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: PR-Similar Companies near Guaynabo
In the Guaynabo area, 12 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 169 employees (compared to this company's 500) and received an average PPP loan of $1,896,114 (compared to this company's $10M).
Similar Nearby Businesses Who Received PPP Funding:
PT, Inc
Guaynabo, PR
Jose M Serrano
San Juan, PR
Vncp LLC
Guaynabo, PR
J & C Corporation
Guaynabo, PR
Twizel, LLC
Guaynabo, PR
Majao Restaurants LLC
Guaynabo, PR
La Estrella Fast Food Inc
Guaynabo, PR
Caribbean Restaurants LLC
Guaynabo, PR
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, 95% lower than South American Restaurants Corp.'s reported 500 employees, and received an average PPP loan of $120,904, 99% lower than this company's loan of $10M.
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.
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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