PPP Loan Data — Toms King Ohio LLC, Palatine, IL
Toms King Ohio LLC is a limited liability company (LLC) located at 220 North Smith St in Palatine, Illinois that received a Coronavirus-related PPP loan from the SBA of $3,710,000.00 in August, 2020.
$ PPP Loan Information
Lender:BLUE RIDGE BANK, NATIONAL ASSOCIATION
Toms King Ohio LLC received a Paycheck Protection Loan of $3.71M through BLUE RIDGE BANK, NATIONAL ASSOCIATION, which was approved in August, 2020.
Based on standard PPP eligibility rules, Toms King Ohio LLC's total 2019 payroll expenses were approximately $17.81M in order to qualify for the PPP loan amount received.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $35,616 per employee1.
Business Information - Toms King Ohio LLC in Palatine, IL
220 North Smith St
Palatine, IL 60067
Limited-Service Restaurants (NAICS code 722513)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: IL-06
Similar Companies near Palatine
In the Palatine area, 30 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 63 employees (compared to this company's 500) and received an average PPP loan of $384,191 (compared to this company's $3.71M).
Similar Nearby Businesses Who Received PPP Funding:
Shri Raj Maher Inc
Park Ridge, IL
Shree Laxmi Krupa Inc.
Palatine Donuts Inc
Toms King Ohio II LLC
Wallys Catering Inc.
Park Ridge, IL
YAS Partners Ev, Inc.
Shama Management Inc.
Industry PPP Comparison Statistics
Nationwide, 79,996 businesses in the "Limited-Service Restaurants" industry received a total of $9,671,819,152.00 in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 23 employees, 95% lower than Toms King Ohio LLC's reported 500 employees, and received an average PPP loan of $120,904, 97% lower than this company's loan of $3.71M.
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.
Footnotes & Information
1. 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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