PPP Loan Data — Cash Connection, Inc, Leitchfield, KY
Cash Connection, Inc is a subchapter s corporation located at 402 N Main St in Leitchfield, Kentucky that received a Coronavirus-related PPP loan from the SBA of $25,092.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least four people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:South Central Bank, Inc.
Cash Connection, Inc in Leitchfield, KY received a Paycheck Protection Loan of $25,092 through South Central Bank, Inc., 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, Cash Connection, Inc's 2019 payroll expenses are estimated to be at least $120,442.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,111 per employee1
Reported PPP Proceed Usage:
On the PPP application, Cash Connection, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,092
Business Information - Cash Connection, Inc in Leitchfield, KY
402 N Main St
Leitchfield, KY 42754
NAICS code 522291
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 2,036 businesses in the "Consumer Lending" industry received a total of $294.22M 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 13 employees, 225% higher than Cash Connection, Inc's reported 4 employees, and received an average PPP loan of $144,509, 476% higher than this company's loan of $25,092.
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Footnotes & Information
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