PPP Loan Data — Cronin Consulting Services, Inc, Kernersville, NC
Cronin Consulting Services, Inc is a corporation located at 1212 Marietta Dr in Kernersville, North Carolina that received a Coronavirus-related PPP loan from the SBA of $24,938.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Cronin Consulting Services, Inc in Kernersville, NC received a Paycheck Protection Loan of $24,938 through Pinnacle Bank, 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 May, 2021.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.
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, Cronin Consulting Services, Inc's 2019 payroll expenses are estimated to be at least $119,702 (not accounting for salary amounts > $100k).
Because the 1 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, Cronin Consulting Services, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,938
Business Information - Cronin Consulting Services, Inc in Kernersville, NC
1212 Marietta Dr
Kernersville, NC 27284
All Other Insurance Related Activities
NAICS code 524298
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 12,557 businesses in the "All Other Insurance Related Activities" industry received a total of $538.36M 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 4 employees, 300% higher than Cronin Consulting Services, Inc's reported 1 employees, and received an average PPP loan of $42,873, 72% higher than this company's loan of $24,938.
FederalPay's PPP Information Policy
Footnotes & Information
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