PPP Loan Data — Brice Fitch, Cookeville, TN
Entity: Self-employed Individual
Location: Cookeville, TNTweet This • Search All PPP Data
Brice Fitch is a self-employed individual located in Cookeville, Tennessee that received a Coronavirus-related PPP loan from the SBA of $46,200.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Brice Fitch in Cookeville, TN received a Paycheck Protection Loan of $46,200 through Regions Bank, which was approved in April, 2020.
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.The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 1 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 2. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
Reported PPP Proceed Usage:
On the PPP application, Brice Fitch reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,200
Business Information - Brice Fitch in Cookeville, TN
* Full address is redacted to protect the privacy of individuals.
Offices of All Other Miscellaneous Health Practitioners
NAICS code 621399
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Cookeville
In the Cookeville area, 21 businesses in the "Offices of All Other Miscellaneous Health Practitioners" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 1) and received an average PPP loan of $14,809 (compared to this company's $46,200).
Similar Nearby Businesses Who Received PPP Funding:
Sculpting Spa LLC
Reflexology After 5
Joyce M Riddle
Industry PPP Comparison Statistics
Nationwide, 64,105 businesses in the "Offices of All Other Miscellaneous Health Practitioners" industry received a total of $2.47B in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 5 employees, 400% higher than Brice Fitch's reported 1 employees, and received an average PPP loan of $38,577, 17% lower than this company's loan of $46,200.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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