PPP Loan Data — Stamford Towers Cafe LLC, Stamford, CT
Stamford Towers Cafe LLC is a limited liability company (LLC) located at 750 Washington Blv in Stamford, Connecticut that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least four people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Stamford Towers Cafe LLC in Stamford, CT received a Paycheck Protection Loan of $25,000 through WebBank, 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 June, 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, Stamford Towers Cafe LLC's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Stamford Towers Cafe LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Stamford Towers Cafe LLC in Stamford, CT
750 Washington Blv
Stamford, CT 6901
Food Service Contractors
NAICS code 722310
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Stamford
In the Stamford area, 11 businesses in the "Food Service Contractors" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 4) and received an average PPP loan of $102,468 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Chutni Biryani & Noodle Bar LLC
E & Ak Holdings LLC
Hapa Food Concepts LLC
Restaurex Developments Inc
Industry PPP Comparison Statistics
Nationwide, 38,610 businesses in the "Food Service Contractors" industry received a total of $2.01B in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 6 employees, 50% higher than Stamford Towers Cafe LLC's reported 4 employees, and received an average PPP loan of $52,102, 108% higher than this company's loan of $25,000.
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Footnotes & Information
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