PPP Loan Data — Vivo Italian Kitchen Inc, Allentown, PA
Vivo Italian Kitchen Inc is a corporation located at 4558 Crackersport Rd in Allentown, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $46,200.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least fourteen people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Community First Capital Corp
Vivo Italian Kitchen Inc in Allentown, PA received a Paycheck Protection Loan of $46,200 through Community First Capital Corp, 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, Vivo Italian Kitchen Inc's 2019 payroll expenses are estimated to be at least $221,760.
Based on their reported 14 jobs retained, this equals an estimated average yearly compensation of $15,840 per employee1
Reported PPP Proceed Usage:
On the PPP application, Vivo Italian Kitchen Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,200
Business Information - Vivo Italian Kitchen Inc in Allentown, PA
4558 Crackersport Rd
Allentown, PA 18104
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 Allentown
In the Allentown area, 86 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 19 employees (compared to this company's 14) and received an average PPP loan of $85,348 (compared to this company's $46,200).
Similar Nearby Businesses Who Received PPP Funding:
Vivo Italian Kitchen
Sal's Pizza Inc
Habaneros Mexican Grill LLC
Platz Restaurant Inc
Okama Asian Cuisine
HUI House Inc
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, 57% higher than Vivo Italian Kitchen Inc's reported 14 employees, and received an average PPP loan of $129,504, 180% higher than this company's loan of $46,200.
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Footnotes & Information
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