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PPP Loan Data — Stafford Restaurant Management LLC,
North Charleston, SC
FRANCHISE
SCStafford Restaurant Management LLC
Entity: Limited Liability Company (LLC)
Industry: Limited-Service Restaurants
Franchise: McDonalds
Location: North Charleston, SC
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Stafford Restaurant Management LLC is a limited liability company (LLC) located at 8584 Rivers Ave in North Charleston, South Carolina that received a Coronavirus-related PPP loan from the SBA of $641,500.00 in April, 2020. This business is a McDonalds franchise.
$
PPP Loan Information
Loan #4010967209
Loan Size:
Jobs Retained:
240Loan Approved:
2020-04-27Loan Status:
Paid in Full or ForgivenLender:
ServisFirst BankStafford Restaurant Management LLC in North Charleston, SC received a Paycheck Protection Loan of $641,500 through ServisFirst 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 April, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Stafford Restaurant Management LLC's 2019 payroll expenses are estimated to be at least $3.08M.
Based on their reported 240 jobs retained, this equals an estimated average yearly compensation of $12,830 per employee1
Reported PPP Proceed Usage:
On the PPP application, Stafford Restaurant Management LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $641,500
Business Information - Stafford Restaurant Management LLC in North Charleston, SC
8584 Rivers Ave
North Charleston, SC 29406
Business Industry:
Limited-Service Restaurants
NAICS code 722513
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: New Business or 2 years or less
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near North Charleston
In the North Charleston area, 73 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 33 employees (compared to this company's 240) and received an average PPP loan of $149,062 (compared to this company's $641,500).
Similar Nearby Businesses Who Received PPP Funding:
J K S & K, Inc
North Charleston, SC
Bluegrass Subs LLC
Charleston, SC
Shishiraj Fast Food LLC
Charleston, SC
Dragonlight C LLC
North Charleston, SC
Cook Out - North Charleston Inc
North Charleston, SC
Sam Rittenberg, LLC
Charleston, SC
Lotus Enterprises, LLC
Charleston, SC
Hot Little Biscuit Clt Inc
North Charleston, SC
Pusser's Rum LTD
North Charleston, SC
Industry PPP Comparison Statistics
Nationwide, 137,863 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, 91% lower than Stafford Restaurant Management LLC's reported 240 employees, and received an average PPP loan of $100,805, 84% lower than this company's loan of $641,500.
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. Estimations for informational purposes only. 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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