PPP Loan Data — Grass Roots, Inc, Davidsonville, MD
Grass Roots, Inc is a corporation located at 501 W Central Ave in Davidsonville, Maryland that received a Coronavirus-related PPP loan from the SBA of $47,000.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Truist Bank d/b/a Branch Banking & Trust Co
Grass Roots, Inc in Davidsonville, MD received a Paycheck Protection Loan of $47,000 through Truist Bank d/b/a Branch Banking & Trust Co, 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 April, 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, Grass Roots, Inc's 2019 payroll expenses are estimated to be at least $225,600.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $56,400 per employee1
Reported PPP Proceed Usage:
On the PPP application, Grass Roots, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $47,000
Business Information - Grass Roots, Inc in Davidsonville, MD
501 W Central Ave
Davidsonville, MD 21035
Landscape Architectural Services
NAICS code 541320
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Davidsonville
In the Davidsonville area, 3 businesses in the "Landscape Architectural Services" industry received a PPP loan. These local businesses reported an average of 11 employees (compared to this company's 4) and received an average PPP loan of $82,467 (compared to this company's $47,000).
Similar Nearby Businesses Who Received PPP Funding:
Stallings Landscaping, Inc
Industry PPP Comparison Statistics
Nationwide, 19,939 businesses in the "Landscape Architectural Services" industry received a total of $1.34B 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 9 employees, 125% higher than Grass Roots, Inc's reported 4 employees, and received an average PPP loan of $67,388, 43% higher than this company's loan of $47,000.
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Footnotes & Information
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