PPP Loan Data — The Butler's Pantry, Reading, PA
The Butler's Pantry is a corporation located at 535 Canal Street in Reading, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $25,089.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Santander Bank, National Association
The Butler's Pantry in Reading, PA received a Paycheck Protection Loan of $25,089 through Santander Bank, National Association, which was approved in April, 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, The Butler's Pantry's 2019 payroll expenses are estimated to be at least $120,427.
Based on their reported 7 jobs retained, this equals an estimated average yearly compensation of $17,204 per employee1
Reported PPP Proceed Usage:
On the PPP application, The Butler's Pantry reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,089
Business Information - The Butler's Pantry in Reading, PA
535 Canal Street
Reading, PA 19602
NAICS code 722511
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Reading
In the Reading area, 39 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 7 employees (compared to this company's 7) and received an average PPP loan of $40,543 (compared to this company's $25,089).
Similar Nearby Businesses Who Received PPP Funding:
By Bar Inc
Taqueria Jimenez LLC
Penn Kitchen LLC
West Reading, PA
Jetset Restaurant & Bar
Jimmie Kramer's The Peanut Bar, Inc
Sokol Marketing Corporation
Judy's On Cherry LLC
Industry PPP Comparison Statistics
Nationwide, 328,914 businesses in the "Full-Service Restaurants" industry received a total of $42.6B 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, 214% higher than The Butler's Pantry's reported 7 employees, and received an average PPP loan of $129,504, 416% higher than this company's loan of $25,089.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!