PPP Loan Data — Sweet Cheeks Espresso LLC, Des Moines, WA
Sweet Cheeks Espresso LLC is a limited liability company (LLC) located at 26215 Pacific Hwy South in Des Moines, Washington that received a Coronavirus-related PPP loan from the SBA of $46,160.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:JPMorgan Chase Bank, National Association
Sweet Cheeks Espresso LLC in Des Moines, WA received a Paycheck Protection Loan of $46,160 through JPMorgan Chase Bank, National Association, 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, Sweet Cheeks Espresso LLC's 2019 payroll expenses are estimated to be at least $221,568.
Based on their reported 11 jobs retained, this equals an estimated average yearly compensation of $20,143 per employee1
Reported PPP Proceed Usage:
On the PPP application, Sweet Cheeks Espresso LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $36,928
- Utilities: $2,032
- Rent: $7,200
Business Information - Sweet Cheeks Espresso LLC in Des Moines, WA
26215 Pacific Hwy South
Des Moines, WA 98198
NAICS code 722513
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Des Moines
In the Des Moines area, 23 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 15 employees (compared to this company's 11) and received an average PPP loan of $140,430 (compared to this company's $46,160).
Similar Nearby Businesses Who Received PPP Funding:
Cherry Bomb Espresso LLC
Axum Foods LLC
Hubco Magnolia LLC
San Pio Inc
Des Moines, WA
Fresh Ideas Inc
Bob's Burger & Teriyaki
Des Moines, WA
Rollback Times LLC
Interstate 5 Subway LLC
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, 91% higher than Sweet Cheeks Espresso LLC's reported 11 employees, and received an average PPP loan of $100,980, 119% higher than this company's loan of $46,160.
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Footnotes & Information
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