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PPP Loan Data — Wendy's Of Colorado Springs, Inc., Colorado Springs, CO

SBA PPP loan data, payroll data, and salaries for Wendy's Of Colorado Springs, Inc.
CO

Wendy's Of Colorado Springs, Inc.

Entity: Partnership

Industry: Full-Service Restaurants

Location: Colorado Springs, CO

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Wendy's Of Colorado Springs, Inc. is a partnership located at 11515 N. Academy Blvd in Colorado Springs, Colorado that received a Coronavirus-related PPP loan from the SBA of $7,240,450.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least 500 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$7.24M

Jobs Retained:

500

Loan Approved:

2020-04-13

Lender:

BBVA USA

Wendy's Of Colorado Springs, Inc. received a Paycheck Protection Loan of $7.24M through BBVA USA, which was approved in April, 2020.

Based on standard PPP eligibility rules, Wendy's Of Colorado Springs, Inc.'s total 2019 payroll expenses were approximately $34.75M 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 $69,508 per employee1.

Because the loan received by Wendy's Of Colorado Springs, Inc. is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Wendy's Of Colorado Springs, Inc. in Colorado Springs, CO

Wendy's Of Colorado Springs, Inc.
11515 N. Academy Blvd
Colorado Springs, CO 80909

Business Industry

Full-Service Restaurants (NAICS code 722511)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: MALE OWNED

Veteran Status: NON-VETERAN

Congressional District: CO-05

Similar Companies near Colorado Springs

In the Colorado Springs area, 26 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 69 employees (compared to this company's 500) and received an average PPP loan of $502,889 (compared to this company's $7.24M).

Industry PPP Comparison Statistics

Nationwide, 175,054 businesses in the "Full-Service Restaurants" industry received a total of $20,426,260,320.00 in PPP loans. These businesses account for 3% of total PPP applications submitted, and received 4% of the total PPP funding allocated.

PPP recipients in this industry report an average of 20 employees, 96% lower than Wendy's Of Colorado Springs, Inc.'s reported 500 employees, and received an average PPP loan of $116,685, 98% lower than this company's loan of $7.24M.

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.

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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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/wendys-of-colorado-springs-inc-colorado-springs-co