PPP Loan Data — Equine Rescue League Foundation, Lovettsville, VA
Equine Rescue League Foundation is a non-profit organization located at 12681 Taylorstown Road in Lovettsville, Virginia that received a Coronavirus-related PPP loan from the SBA of $25,400.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Atlantic Union Bank
Equine Rescue League Foundation in Lovettsville, VA received a Paycheck Protection Loan of $25,400 through Atlantic Union 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 February, 2021.
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, Equine Rescue League Foundation's 2019 payroll expenses are estimated to be at least $121,920.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,960 per employee1
Reported PPP Proceed Usage:
On the PPP application, Equine Rescue League Foundation reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,400
Business Information - Equine Rescue League Foundation in Lovettsville, VA
12681 Taylorstown Road
Lovettsville, VA 20180
Horses and Other Equine Production
NAICS code 112920
Business Owner Demographics
Veteran Status: Non-Veteran
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Lovettsville
In the Lovettsville area, 4 businesses in the "Horses and Other Equine Production" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 2) and received an average PPP loan of $20,299 (compared to this company's $25,400).
Similar Nearby Businesses Who Received PPP Funding:
Silver Eagle Stable
Tina Ann Legno
Industry PPP Comparison Statistics
Nationwide, 7,237 businesses in the "Horses and Other Equine Production" industry received a total of $163.1M 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 3 employees, 50% higher than Equine Rescue League Foundation's reported 2 employees, and received an average PPP loan of $22,537, 11% lower than this company's loan of $25,400.
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Footnotes & Information
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