PPP Loan Data — Super Buffet, Benton Harbor, MI
Super Buffet is a self-employed individual located at 1956 Pipestone Road in Benton Harbor, Michigan that received a Coronavirus-related PPP loan from the SBA of $25,236.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Cross River Bank
Super Buffet in Benton Harbor, MI received a Paycheck Protection Loan of $25,236 through Cross River Bank, which was approved in May, 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, Super Buffet's 2019 payroll expenses are estimated to be at least $121,133.
Based on their reported 9 jobs retained, this equals an estimated average yearly compensation of $13,459 per employee1
Reported PPP Proceed Usage:
On the PPP application, Super Buffet reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,236
Business Information - Super Buffet in Benton Harbor, MI
1956 Pipestone Road
Benton Harbor, MI 49022
Cafeterias, Grill Buffets, and Buffets
NAICS code 722514
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 6,055 businesses in the "Cafeterias, Grill Buffets, and Buffets" industry received a total of $409.46M 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 12 employees, 33% higher than Super Buffet's reported 9 employees, and received an average PPP loan of $67,624, 168% higher than this company's loan of $25,236.
FederalPay's PPP Information Policy
Footnotes & Information
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