PPP Loan Data — Chilhowie Eagle, LLC, Chilhowie, VA
Chilhowie Eagle, LLC is a limited liability company (LLC) located at 409 Whitetop Rd in Chilhowie, Virginia that received a Coronavirus-related PPP loan from the SBA of $25,200.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least eight people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:The Bank of Marion
Chilhowie Eagle, LLC in Chilhowie, VA received a Paycheck Protection Loan of $25,200 through The Bank of Marion, 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.
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, Chilhowie Eagle, LLC's 2019 payroll expenses are estimated to be at least $120,960.
Based on their reported 8 jobs retained, this equals an estimated average yearly compensation of $15,120 per employee1
Reported PPP Proceed Usage:
On the PPP application, Chilhowie Eagle, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $20,160
- Utilities: $2,520
- Rent: $2,520
Business Information - Chilhowie Eagle, LLC in Chilhowie, VA
409 Whitetop Rd
Chilhowie, VA 24319
Gasoline Stations with Convenience Stores
NAICS code 447110
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Chilhowie
In the Chilhowie area, 2 businesses in the "Gasoline Stations with Convenience Stores" industry received a PPP loan. These local businesses reported an average of 9 employees (compared to this company's 8) and received an average PPP loan of $26,350 (compared to this company's $25,200).
Similar Nearby Businesses Who Received PPP Funding:
Whitetop Eagle, Inc
Industry PPP Comparison Statistics
Nationwide, 45,026 businesses in the "Gasoline Stations with Convenience Stores" industry received a total of $2.06B 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 10 employees, 25% higher than Chilhowie Eagle, LLC's reported 8 employees, and received an average PPP loan of $45,821, 82% higher than this company's loan of $25,200.
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Footnotes & Information
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