PPP Loan Data — Wendy's Of Bloomington Inc, Bloomington, IN
Wendy's Of Bloomington Inc is a corporation located at 3900 W Industrial Blvd Ste 3 in Bloomington, Indiana that received a Coronavirus-related PPP loan from the SBA of $2,104,225.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Fifth Third Bank
Wendy's Of Bloomington Inc in Bloomington, IN received a Paycheck Protection Loan of $2.1M through Fifth Third 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, Wendy's Of Bloomington Inc's 2019 payroll expenses are estimated to be at least $10.1M.
Based on their reported 390 jobs retained, this equals an estimated average yearly compensation of $25,898 per employee1
Reported PPP Proceed Usage:
On the PPP application, Wendy's Of Bloomington Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,104,225
Business Information - Wendy's Of Bloomington Inc in Bloomington, IN
3900 W Industrial Blvd Ste 3
Bloomington, IN 47403
NAICS code 722513
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Bloomington
In the Bloomington area, 15 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 92 employees (compared to this company's 390) and received an average PPP loan of $427,148 (compared to this company's $2.1M).
Similar Nearby Businesses Who Received PPP Funding:
Homie Shabu Shabu LLC
Hinkle's Hamburgers LLC
Shiva Enterprise Inc
Smokin' Jack's Rib Shack LLC
Dtid Pizza Inc
Helton Hospitality, LLC
Dtid Wolverine Pizza, LLC
Industry PPP Comparison Statistics
Nationwide, 137,629 businesses in the "Limited-Service Restaurants" industry received a total of $13.9B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 21 employees, 95% lower than Wendy's Of Bloomington Inc's reported 390 employees, and received an average PPP loan of $100,980, 95% lower than this company's loan of $2.1M.
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Footnotes & Information
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