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PPP Loan Data — West Palm Beach Food & Beverage LLC, West Palm Beach, FL

ALERT: There are 2 PPP loans for a total of $870,100 in our database for businesses with the name "West Palm Beach Food & Beverage LLC" in West Palm Beach, FL. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for West Palm Beach Food & Beverage LLC
FL

West Palm Beach Food & Beverage LLC

Entity: Limited Liability Company (LLC)

Industry: Full-Service Restaurants

Location: West Palm Beach, FL

Search All PPP Data

West Palm Beach Food & Beverage LLC is a limited liability company (LLC) located at 2905 45th St in West Palm Beach, Florida that received a Coronavirus-related PPP loan from the SBA of $409,300.00 in May, 2021.

$ PPP Loan Information
Loan #3414819008

Loan Size:

$409,300

Jobs Retained:

65

Loan Approved:

2021-05-18

Loan Status:

Ongoing Loan

Lender:

Republic Bank & Trust Company

West Palm Beach Food & Beverage LLC in West Palm Beach, FL received a Paycheck Protection Loan of $409,300 through Republic Bank & Trust Company, which was approved in May, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, West Palm Beach Food & Beverage LLC's 2019 payroll expenses are estimated to be at least $1.96M.

Based on their reported 65 jobs retained, this equals an estimated average yearly compensation of $30,225 per employee1

Reported PPP Proceed Usage:

On the PPP application, West Palm Beach Food & Beverage LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $409,299
  • Utilities: $1

Business Information - West Palm Beach Food & Beverage LLC in West Palm Beach, FL

West Palm Beach Food & Beverage LLC
2905 45th St
West Palm Beach, FL 33407

Business Industry:
Full-Service Restaurants
NAICS code 722511

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: N

Rural / Urban: Urban

Palm Beach County, FL — SBA Office 0455 — Congressional District: FL-20

Similar Companies near West Palm Beach

In the West Palm Beach area, 118 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 21 employees (compared to this company's 65) and received an average PPP loan of $116,308 (compared to this company's $409,300).

Industry PPP Comparison Statistics

Nationwide, 329,389 businesses in the "Full-Service Restaurants" industry received a total of $42.59B 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, 66% lower than West Palm Beach Food & Beverage LLC's reported 65 employees, and received an average PPP loan of $129,294, 68% lower than this company's loan of $409,300.

SBA PPP loan data, payroll data, and salaries for West Palm Beach Food & Beverage LLC
FL

West Palm Beach Food & Beverage LLC

Entity: Limited Liability Company (LLC)

Industry: Full-Service Restaurants

Location: West Palm Beach, FL

Search All PPP Data

West Palm Beach Food & Beverage LLC is a limited liability company (LLC) located at 2905 45th Street in West Palm Beach, Florida that received a Coronavirus-related PPP loan from the SBA of $460,800.00 in April, 2020.

$ PPP Loan Information
Loan #8144307203

Loan Size:

$460,800

Jobs Retained:

82

Loan Approved:

2020-04-28

Loan Status:

Paid in Full or Forgiven

Lender:

Republic Bank & Trust Company

West Palm Beach Food & Beverage LLC in West Palm Beach, FL received a Paycheck Protection Loan of $460,800 through Republic Bank & Trust Company, 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 February, 2021.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, West Palm Beach Food & Beverage LLC's 2019 payroll expenses are estimated to be at least $2.21M.

Based on their reported 82 jobs retained, this equals an estimated average yearly compensation of $26,974 per employee1

Reported PPP Proceed Usage:

On the PPP application, West Palm Beach Food & Beverage LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $460,800

Business Information - West Palm Beach Food & Beverage LLC in West Palm Beach, FL

West Palm Beach Food & Beverage LLC
2905 45th Street
West Palm Beach, FL 33407

Business Industry:
Full-Service Restaurants
NAICS code 722511

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: Y

Rural / Urban: Urban

Palm Beach County, FL — SBA Office 0455 — Congressional District: FL-20

Similar Companies near West Palm Beach

In the West Palm Beach area, 118 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 21 employees (compared to this company's 82) and received an average PPP loan of $116,308 (compared to this company's $460,800).

Industry PPP Comparison Statistics

Nationwide, 329,389 businesses in the "Full-Service Restaurants" industry received a total of $42.59B 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, 73% lower than West Palm Beach Food & Beverage LLC's reported 82 employees, and received an average PPP loan of $129,294, 72% lower than this company's loan of $460,800.

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. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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/west-palm-beach-food-beverage-llc-west-palm-beach-fl