PPP Loan Data — Cheech's Pizza, Inc, Williamson, WV
Cheech's Pizza, Inc is a corporation located at 408 Rt 65 Lenore in Williamson, West Virginia that received a Coronavirus-related PPP loan from the SBA of $46,364.00 in April, 2020.
The company has reported itself as a White female owned business, and employed at least sixteen people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bank of Mingo
Cheech's Pizza, Inc in Williamson, WV received a Paycheck Protection Loan of $46,364 through Bank of Mingo, 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 April, 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, Cheech's Pizza, Inc's 2019 payroll expenses are estimated to be at least $222,547.
Based on their reported 16 jobs retained, this equals an estimated average yearly compensation of $13,909 per employee1
Reported PPP Proceed Usage:
On the PPP application, Cheech's Pizza, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,364
Business Information - Cheech's Pizza, Inc in Williamson, WV
408 Rt 65 Lenore
Williamson, WV 25661
NAICS code 722513
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
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, 31% higher than Cheech's Pizza, Inc's reported 16 employees, and received an average PPP loan of $100,980, 118% higher than this company's loan of $46,364.
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Footnotes & Information
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