PPP Loan Data — H & H Jung Corporation Inc, Mauk, GA
H & H Jung Corporation Inc is a subchapter s corporation located at 5419 Ga Highway 41 in Mauk, Georgia that received a Coronavirus-related PPP loan from the SBA of $25,450.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:The Peoples Bank of Georgia
H & H Jung Corporation Inc in Mauk, GA received a Paycheck Protection Loan of $25,450 through The Peoples Bank of Georgia, which was approved in May, 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, H & H Jung Corporation Inc's 2019 payroll expenses are estimated to be at least $122,160.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $20,360 per employee1
Reported PPP Proceed Usage:
On the PPP application, H & H Jung Corporation Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $20,360
- Utilities: $2,545
- Mortgage Interest: $2,545
Business Information - H & H Jung Corporation Inc in Mauk, GA
5419 Ga Highway 41
Mauk, GA 31058
Gasoline Stations with Convenience Stores
NAICS code 447110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Mauk
In the Mauk area, 4 businesses in the "Gasoline Stations with Convenience Stores" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 6) and received an average PPP loan of $12,252 (compared to this company's $25,450).
Similar Nearby Businesses Who Received PPP Funding:
Casa Bawa, Inc
Krisha And Kina LLC
4JK Enterprises LLC
Industry PPP Comparison Statistics
Nationwide, 45,026 businesses in the "Gasoline Stations with Convenience Stores" industry received a total of $2.06B 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 10 employees, 67% higher than H & H Jung Corporation Inc's reported 6 employees, and received an average PPP loan of $45,821, 80% higher than this company's loan of $25,450.
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Footnotes & Information
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