PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — The Early Bird Diner LLC, Charleston, SC

ALERT: There are 2 PPP loans for a total of $493,193 in our database for businesses with the name "The Early Bird Diner LLC" in Charleston, SC. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for The Early Bird Diner LLC
SC

The Early Bird Diner LLC

Entity: Limited Liability Company (LLC)

Industry: Full-Service Restaurants

Location: Charleston, SC

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The Early Bird Diner LLC is a limited liability company (LLC) located at 1644 Savannah Hwy in Charleston, South Carolina that received a Coronavirus-related PPP loan from the SBA of $287,658.00 in March, 2021.

$ PPP Loan Information
Loan #6994718506

Loan Size:

$287,658

Jobs Retained:

25

Loan Approved:

2021-03-05

Loan Status:

Active Un-Disbursed

Lender:

South State Bank, National Association
PPP Funds Undisbursed

The Early Bird Diner LLC in Charleston, SC received a Paycheck Protection Loan of $287,658 through South State Bank, National Association, which was approved in March, 2021.

While this loan has been approved by the Small Business Administration, the lender has not reported to the SBA that the loan funds were disbursed to the borrower. According to SBA records, a total of $287,658 in approved PPP funding has not been disbursed. The loan's status was last updated by the SBA in March, 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 More
Understanding 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 More

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 Early Bird Diner LLC's 2019 payroll expenses are estimated to be at least $1.38M.

Based on their reported 25 jobs retained, this equals an estimated average yearly compensation of $55,230 per employee1

Reported PPP Proceed Usage:

On the PPP application, The Early Bird Diner LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $287,658

Business Information - The Early Bird Diner LLC in Charleston, SC

The Early Bird Diner LLC
1644 Savannah Hwy
Charleston, SC 29407

Business Industry:
Full-Service Restaurants
NAICS code 722511

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: N

Rural / Urban: Urban

Charleston County, SC — SBA Office 0464 — Congressional District: SC-01

Similar Companies near Charleston

In the Charleston area, 141 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 36 employees (compared to this company's 25) and received an average PPP loan of $228,875 (compared to this company's $287,658).

Industry PPP Comparison Statistics

Nationwide, 309,144 businesses in the "Full-Service Restaurants" industry received a total of $40.98B in PPP loans. These businesses account for 3% of total PPP applications submitted, and received 6% of the total PPP funding allocated.

PPP recipients in this industry report an average of 23 employees, 8% lower than The Early Bird Diner LLC's reported 25 employees, and received an average PPP loan of $132,556, 54% lower than this company's loan of $287,658.

SBA PPP loan data, payroll data, and salaries for The Early Bird Diner, LLC
SC

The Early Bird Diner, LLC

Entity: Limited Liability Company (LLC)

Industry: Limited-Service Restaurants

Location: Charleston, SC

Search All PPP Data

The Early Bird Diner, LLC is a limited liability company (LLC) located at 1644 Savannah Hwy in Charleston, South Carolina that received a Coronavirus-related PPP loan from the SBA of $205,535.00 in April, 2020.

$ PPP Loan Information
Loan #7509777203

Loan Size:

$205,535

Jobs Retained:

25

Loan Approved:

2020-04-28

Loan Status:

Paid in Full or Forgiven

Lender:

South State Bank, National Association

The Early Bird Diner, LLC in Charleston, SC received a Paycheck Protection Loan of $205,535 through South State Bank, National Association, 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 March, 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 More
Understanding 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 More

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 Early Bird Diner, LLC's 2019 payroll expenses are estimated to be at least $986,568.

Based on their reported 25 jobs retained, this equals an estimated average yearly compensation of $39,463 per employee1

Reported PPP Proceed Usage:

On the PPP application, The Early Bird Diner, LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $205,535

Business Information - The Early Bird Diner, LLC in Charleston, SC

The Early Bird Diner, LLC
1644 Savannah Hwy
Charleston, SC 29407

Business Industry:
Limited-Service Restaurants
NAICS code 722513

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: Y

Rural / Urban: Urban

Charleston County, SC — SBA Office 0464 — Congressional District: SC-01

Similar Companies near Charleston

In the Charleston area, 55 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 40 employees (compared to this company's 25) and received an average PPP loan of $183,010 (compared to this company's $205,535).

Industry PPP Comparison Statistics

Nationwide, 127,949 businesses in the "Limited-Service Restaurants" industry received a total of $13.48B 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 22 employees, 12% lower than The Early Bird Diner, LLC's reported 25 employees, and received an average PPP loan of $105,388, 49% lower than this company's loan of $205,535.

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.

Search FederalPay's Full PPP Loan Database

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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Source: www.federalpay.org/paycheck-protection-program/the-early-bird-diner-llc-charleston-sc