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PPP Loan Data — The Angus Barn LTD. LLC,
Raleigh, NC
The Angus Barn LTD. LLC
Entity: Limited Liability Company (LLC)
Industry: Full-Service Restaurants
Location: Raleigh, NC
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The Angus Barn LTD. LLC is a limited liability company (LLC) located at 9401 Glenwood Ave in Raleigh, North Carolina that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in January, 2021.
The company has reported itself as a female owned business, and employed at least 276 people during the applicable loan loan period.
$
PPP Loan Information
Loan #4746548309
Loan Size:
Jobs Retained:
276Loan Approved:
2021-01-23Loan Status:
Ongoing LoanLender:
First-Citizens Bank & Trust CompanyThe Angus Barn LTD. LLC in Raleigh, NC received a Paycheck Protection Loan of $2M through First-Citizens Bank & Trust Company, which was approved in January, 2021.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
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, The Angus Barn LTD. LLC's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 276 jobs retained, this equals an estimated average yearly compensation of $34,783 per employee1
Reported PPP Proceed Usage:
On the PPP application, The Angus Barn LTD. LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,998
- Utilities: $1
Business Information - The Angus Barn LTD. LLC in Raleigh, NC
9401 Glenwood Ave
Raleigh, NC 27617
Business Industry:
Full-Service Restaurants
NAICS code 722511
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Female Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Businesses Using Same Address:
There are 2 other businesses that received a PPP loan registered to the same address as The Angus Barn LTD. LLC.
The Foundation Of Hope For Research And Treatment
Research and Development in Biotechnology (except Nanobiotechnology)
The Foundation Of Hope For Research And Treatment Of Mental
Grantmaking Foundations
Similar Companies near Raleigh
In the Raleigh area, 63 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 30 employees (compared to this company's 276) and received an average PPP loan of $187,033 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Laxmi Group LLC
Raleigh, NC
Lm&Jp Investments LLC
Raleigh, NC
Julius West
Raleigh, NC
Seol 1 LLC
Raleigh, NC
Toreros Forestville LLC
Raleigh, NC
Scooter's Grill & Bar, LLC
Raleigh, NC
Umami Raleigh Japanese Steak House Sushi Bar Inc
Raleigh, NC
Big AL's BBQ & Catering Services Inc
Raleigh, NC
Industry PPP Comparison Statistics
Nationwide, 326,480 businesses in the "Full-Service Restaurants" industry received a total of $42.51B in PPP loans. These businesses account for 3% of total PPP applications submitted, and received 5% of the total PPP funding allocated.
PPP recipients in this industry report an average of 22 employees, 92% lower than The Angus Barn LTD. LLC's reported 276 employees, and received an average PPP loan of $130,209, 93% lower than this company's loan of $2M.
The Angus Barn LTD LLC
Entity: Limited Liability Company (LLC)
Industry: Full-Service Restaurants
Location: Raleigh, NC
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•
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The Angus Barn LTD LLC is a limited liability company (LLC) located at 9401 Glenwood Ave in Raleigh, North Carolina that received a Coronavirus-related PPP loan from the SBA of $2,604,300.00 in April, 2020.
The company has reported itself as a female owned business, and employed at least 353 people during the applicable loan loan period.
$
PPP Loan Information
Loan #6992787004
Loan Size:
Jobs Retained:
353Loan Approved:
2020-04-07Loan Status:
Paid in Full or ForgivenLender:
First-Citizens Bank & Trust CompanyThe Angus Barn LTD LLC in Raleigh, NC received a Paycheck Protection Loan of $2.6M through First-Citizens Bank & Trust Company, 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 July, 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, The Angus Barn LTD LLC's 2019 payroll expenses are estimated to be at least $12.5M.
Based on their reported 353 jobs retained, this equals an estimated average yearly compensation of $35,413 per employee1
Reported PPP Proceed Usage:
On the PPP application, The Angus Barn LTD LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,604,300
Business Information - The Angus Barn LTD LLC in Raleigh, NC
9401 Glenwood Ave
Raleigh, NC 27617
Business Industry:
Full-Service Restaurants
NAICS code 722511
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Female Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: New Business or 2 years or less
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Businesses Using Same Address:
There are 2 other businesses that received a PPP loan registered to the same address as The Angus Barn LTD LLC.
The Foundation Of Hope For Research And Treatment
Research and Development in Biotechnology (except Nanobiotechnology)
The Foundation Of Hope For Research And Treatment Of Mental
Grantmaking Foundations
Similar Companies near Raleigh
In the Raleigh area, 63 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 30 employees (compared to this company's 353) and received an average PPP loan of $187,033 (compared to this company's $2.6M).
Similar Nearby Businesses Who Received PPP Funding:
Laxmi Group LLC
Raleigh, NC
Lm&Jp Investments LLC
Raleigh, NC
Julius West
Raleigh, NC
Seol 1 LLC
Raleigh, NC
Toreros Forestville LLC
Raleigh, NC
Scooter's Grill & Bar, LLC
Raleigh, NC
Umami Raleigh Japanese Steak House Sushi Bar Inc
Raleigh, NC
Big AL's BBQ & Catering Services Inc
Raleigh, NC
Industry PPP Comparison Statistics
Nationwide, 326,480 businesses in the "Full-Service Restaurants" industry received a total of $42.51B in PPP loans. These businesses account for 3% of total PPP applications submitted, and received 5% of the total PPP funding allocated.
PPP recipients in this industry report an average of 22 employees, 94% lower than The Angus Barn LTD LLC's reported 353 employees, and received an average PPP loan of $130,209, 95% lower than this company's loan of $2.6M.
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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