PPP Loan Data — SRI Balaganapati LLC, Knoxville, TN
SRI Balaganapati LLC is a limited liability company (LLC) located at 150 Lovell Rd in Knoxville, Tennessee that received a Coronavirus-related PPP loan from the SBA of $25,240.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:U.S. Bank, National Association
SRI Balaganapati LLC in Knoxville, TN received a Paycheck Protection Loan of $25,240 through U.S. Bank, National Association, 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 March, 2021.
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, SRI Balaganapati LLC's 2019 payroll expenses are estimated to be at least $121,152.
Based on their reported 10 jobs retained, this equals an estimated average yearly compensation of $12,115 per employee1
Reported PPP Proceed Usage:
On the PPP application, SRI Balaganapati LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,240
Business Information - SRI Balaganapati LLC in Knoxville, TN
150 Lovell Rd
Knoxville, TN 37934
NAICS code 722513
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Knoxville
In the Knoxville area, 17 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 55 employees (compared to this company's 10) and received an average PPP loan of $206,496 (compared to this company's $25,240).
Similar Nearby Businesses Who Received PPP Funding:
Travis Presley DBA Little Joe's Pizza
Dalee Management LLC
3 Burgers LLC
Knox Nutrition LLC
Semper Fi Pizza, LLC
Peteza Prose LLC
ALA Bama Pizza, LLC
Northeast Arkansas Pizza Inc
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, 110% higher than SRI Balaganapati LLC's reported 10 employees, and received an average PPP loan of $100,980, 300% higher than this company's loan of $25,240.
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Footnotes & Information
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