PPP Loan Data — Golf Grill Chill Inc, Wales, MI
Golf Grill Chill Inc is a corporation located at 7860 Smiths Creek Rd in Wales, Michigan that received a Coronavirus-related PPP loan from the SBA of $46,031.00 in January, 2021.
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
Golf Grill Chill Inc in Wales, MI received a Paycheck Protection Loan of $46,031 through ChoiceOne Bank, which was approved in January, 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, Golf Grill Chill Inc's 2019 payroll expenses are estimated to be at least $220,949.
Based on their reported 8 jobs retained, this equals an estimated average yearly compensation of $27,619 per employee1
Reported PPP Proceed Usage:
On the PPP application, Golf Grill Chill Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,025
- Utilities: $1
Business Information - Golf Grill Chill Inc in Wales, MI
7860 Smiths Creek Rd
Wales, MI 48027
Golf Courses and Country Clubs
NAICS code 713910
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 Wales
In the Wales area, 3 businesses in the "Golf Courses and Country Clubs" industry received a PPP loan. These local businesses reported an average of 6 employees (compared to this company's 8) and received an average PPP loan of $40,652 (compared to this company's $46,031).
Similar Nearby Businesses Who Received PPP Funding:
Indoor Golf Clubs Of America, LLC
Golf, Grill, Chill, Inc
Industry PPP Comparison Statistics
Nationwide, 9,352 businesses in the "Golf Courses and Country Clubs" industry received a total of $1.3B 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 28 employees, 250% higher than Golf Grill Chill Inc's reported 8 employees, and received an average PPP loan of $139,292, 203% higher than this company's loan of $46,031.
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Footnotes & Information
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