PPP Loan Data — The Rose Cafe & Market Inc, Venice, CA
The Rose Cafe & Market Inc is a corporation located at 220 Rose Ave in Venice, California that received a Coronavirus-related PPP loan from the SBA of $2,018,238.00 in April, 2020.
The company has reported itself as an Asian male owned business, and employed at least 203 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:East West Bank
The Rose Cafe & Market Inc in Venice, CA received a Paycheck Protection Loan of $2.02M through East West Bank, 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 Rose Cafe & Market Inc's 2019 payroll expenses are estimated to be at least $9.69M.
Based on their reported 203 jobs retained, this equals an estimated average yearly compensation of $47,722 per employee1
Reported PPP Proceed Usage:
On the PPP application, The Rose Cafe & Market Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,018,238
Business Information - The Rose Cafe & Market Inc in Venice, CA
220 Rose Ave
Venice, CA 90291
NAICS code 722511
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Venice
In the Venice area, 170 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 42 employees (compared to this company's 203) and received an average PPP loan of $362,353 (compared to this company's $2.02M).
Similar Nearby Businesses Who Received PPP Funding:
The Copper Room
CCC Lincoln Inc
The Wee Chippy Venice, LLC
Marina Del Rey, CA
North Venice Boardwalk LLC
Oakwood Park, LLC
Irori Restaurant Managment, Inc
Marina Del Rey, CA
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, 89% lower than The Rose Cafe & Market Inc's reported 203 employees, and received an average PPP loan of $129,504, 94% lower than this company's loan of $2.02M.
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Footnotes & Information
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