PPP Loan Data — The Good Food Group Inc, Franklin, TN
The Good Food Group Inc is a subchapter s corporation located at 109 Holiday Ct in Franklin, Tennessee that received a Coronavirus-related PPP loan from the SBA of $1,848,300.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
The Good Food Group Inc in Franklin, TN received a Paycheck Protection Loan of $1.85M through Regions Bank, 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 December, 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 Good Food Group Inc's 2019 payroll expenses are estimated to be at least $8.87M.
Based on their reported 400 jobs retained, this equals an estimated average yearly compensation of $22,180 per employee1
Reported PPP Proceed Usage:
On the PPP application, The Good Food Group Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,848,300
Business Information - The Good Food Group Inc in Franklin, TN
109 Holiday Ct
Franklin, TN 37067
NAICS code 722513
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Franklin
In the Franklin area, 40 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 49 employees (compared to this company's 400) and received an average PPP loan of $405,287 (compared to this company's $1.85M).
Similar Nearby Businesses Who Received PPP Funding:
Concord Global Inc
Deerfield Hospitality Group LLC
ASL Investments, LLC
Campione's Taste Of Chicago
J&J Hospitality, LLC
SDI, Centennial, TN, 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, 95% lower than The Good Food Group Inc's reported 400 employees, and received an average PPP loan of $100,980, 95% lower than this company's loan of $1.85M.
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Footnotes & Information
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