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

PPP Loan Data — This Is It Cafe, West Palm Beach, FL

ALERT: There are 2 PPP loans for a total of $142,452 in our database for businesses with the name "This Is It Cafe" in West Palm Beach, FL. 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 This Is It Cafe
FL

This Is It Cafe

Entity: Corporation

Industry: Full-Service Restaurants

Location: West Palm Beach, FL

Search All PPP Data

This Is It Cafe is a corporation located at 444 24th St in West Palm Beach, Florida that received a Coronavirus-related PPP loan from the SBA of $83,097.00 in February, 2021.

$ PPP Loan Information
Loan #3352528404

Loan Size:

$83,097

Jobs Retained:

15

Loan Approved:

2021-02-04

Loan Status:

Ongoing Loan

Lender:

Customers Bank

This Is It Cafe in West Palm Beach, FL received a Paycheck Protection Loan of $83,097 through Customers Bank, which was approved in February, 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 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, This Is It Cafe's 2019 payroll expenses are estimated to be at least $398,866.

Based on their reported 15 jobs retained, this equals an estimated average yearly compensation of $26,591 per employee1

Reported PPP Proceed Usage:

On the PPP application, This Is It Cafe reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $83,092
  • Utilities: $1

Business Information - This Is It Cafe in West Palm Beach, FL

This Is It Cafe
444 24th St
West Palm Beach, FL 33407

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: Y

Rural / Urban: Urban

Palm Beach County, FL — SBA Office 0455 — Congressional District: FL-20

Similar Companies near West Palm Beach

In the West Palm Beach area, 115 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 21 employees (compared to this company's 15) and received an average PPP loan of $117,816 (compared to this company's $83,097).

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, 47% higher than This Is It Cafe's reported 15 employees, and received an average PPP loan of $129,504, 56% higher than this company's loan of $83,097.

SBA PPP loan data, payroll data, and salaries for This Is It Cafe
FL

This Is It Cafe

Entity: Corporation

Industry: Full-Service Restaurants

Location: West Palm Beach, FL

Search All PPP Data

This Is It Cafe is a corporation located at 444 24th St in West Palm Beach, Florida that received a Coronavirus-related PPP loan from the SBA of $59,355.00 in July, 2020.

$ PPP Loan Information
Loan #2139758203

Loan Size:

$59,355

Jobs Retained:

15

Loan Approved:

2020-07-31

Loan Status:

Ongoing Loan

Lender:

Kabbage, Inc.

This Is It Cafe in West Palm Beach, FL received a Paycheck Protection Loan of $59,355 through Kabbage, Inc., which was approved in July, 2020.

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 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, This Is It Cafe's 2019 payroll expenses are estimated to be at least $284,904.

Based on their reported 15 jobs retained, this equals an estimated average yearly compensation of $18,994 per employee1

Reported PPP Proceed Usage:

On the PPP application, This Is It Cafe reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $59,355

Business Information - This Is It Cafe in West Palm Beach, FL

This Is It Cafe
444 24th St
West Palm Beach, FL 33407

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: Y

Rural / Urban: Urban

Palm Beach County, FL — SBA Office 0455 — Congressional District: FL-20

Similar Companies near West Palm Beach

In the West Palm Beach area, 115 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 21 employees (compared to this company's 15) and received an average PPP loan of $117,816 (compared to this company's $59,355).

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, 47% higher than This Is It Cafe's reported 15 employees, and received an average PPP loan of $129,504, 118% higher than this company's loan of $59,355.

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/this-is-it-cafe-west-palm-beach-fl