PPP Loan Data — TM Restaurant Group, LLC, Alpharetta, GA
TM Restaurant Group, LLC is a limited liability company (LLC) located at 6220 Shiloh Rd Suite 100 in Alpharetta, Georgia that received a Coronavirus-related PPP loan from the SBA of $6,832,000.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Truist Bank d/b/a Branch Banking & Trust Co
TM Restaurant Group, LLC in Alpharetta, GA received a Paycheck Protection Loan of $6.83M through Truist Bank d/b/a Branch Banking & Trust Co, 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 July, 2021.
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, TM Restaurant Group, LLC's 2019 payroll expenses are estimated to be at least $32.79M.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $65,587 per employee1
Reported PPP Proceed Usage:
On the PPP application, TM Restaurant Group, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $6,832,000
Business Information - TM Restaurant Group, LLC in Alpharetta, GA
6220 Shiloh Rd Suite 100
Alpharetta, GA 30005
NAICS code 722511
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Alpharetta
In the Alpharetta area, 191 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 29 employees (compared to this company's 500) and received an average PPP loan of $166,768 (compared to this company's $6.83M).
Similar Nearby Businesses Who Received PPP Funding:
Mi Taco Mexican Taqueria, Inc
Cafe Restaurants Winward LLC
Simons Chinese Cuisine LLC
Articles Of Faith Enterprises LLC
AU Pan Crepe
HG Morris Construction Co LLC
Volcano Alpharetta Inc
Industry PPP Comparison Statistics
Nationwide, 326,480 businesses in the "Full-Service Restaurants" industry received a total of $42.51B 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, 96% lower than TM Restaurant Group, LLC's reported 500 employees, and received an average PPP loan of $130,209, 98% lower than this company's loan of $6.83M.
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Footnotes & Information
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