PPP Loan Data — Southern Hospitality Ventures, Inc, Lincoln, NE
Southern Hospitality Ventures, Inc is a corporation located at 1220 Lincoln Mall in Lincoln, Nebraska that received a Coronavirus-related PPP loan from the SBA of $1,587,200.00 in April, 2020. This business is a Raising Cane's franchise.
The company has reported itself as a White male owned business, and employed at least 250 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Five Points Bank
Southern Hospitality Ventures, Inc in Lincoln, NE received a Paycheck Protection Loan of $1.59M through Five Points Bank, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in September, 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, Southern Hospitality Ventures, Inc's 2019 payroll expenses are estimated to be at least $7.62M.
Based on their reported 250 jobs retained, this equals an estimated average yearly compensation of $30,474 per employee1
Reported PPP Proceed Usage:
On the PPP application, Southern Hospitality Ventures, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,587,200
Business Information - Southern Hospitality Ventures, Inc in Lincoln, NE
1220 Lincoln Mall
Lincoln, NE 68508
NAICS code 722511
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Lincoln
In the Lincoln area, 64 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 27 employees (compared to this company's 250) and received an average PPP loan of $133,945 (compared to this company's $1.59M).
Similar Nearby Businesses Who Received PPP Funding:
Grey Whale LLC
Seven Diamonds LLC
Greenfields Cafe, Inc
Richmond Rollins LLC
Seven Crowns Investment Group LLC
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, 91% lower than Southern Hospitality Ventures, Inc's reported 250 employees, and received an average PPP loan of $129,504, 92% lower than this company's loan of $1.59M.
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Footnotes & Information
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