PPP Loan Data — Evermore, Inc, West Palm Beach, FL
Evermore, Inc is a subchapter s corporation located at 11863 Wimbledon Cir #405 in West Palm Beach, Florida that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:JPMorgan Chase Bank, National Association
Evermore, Inc in West Palm Beach, FL received a Paycheck Protection Loan of $25,000 through JPMorgan Chase Bank, National Association, which was approved in May, 2020.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 1. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
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, Evermore, Inc's 2019 payroll expenses are estimated to be at least $120,000 (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, Evermore, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Evermore, Inc in West Palm Beach, FL
11863 Wimbledon Cir #405
West Palm Beach, FL 33414
Horses and Other Equine Production
NAICS code 112920
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near West Palm Beach
In the West Palm Beach area, 45 businesses in the "Horses and Other Equine Production" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 1) and received an average PPP loan of $26,706 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Wolfstone Stables & Sales Inc
Horse Sports By The Bay Inc
RSB Farm Inc
Ravello Farms Inc
Maarten Huygens Horse Sales Inc
Windhorse Dressage LLC
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, 200% higher than Evermore, Inc's reported 1 employees, and received an average PPP loan of $22,537, 10% lower than this company's loan of $25,000.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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