PPP Loan Data — Hammer Tax & Accounting Inc, Kenai, AK
Hammer Tax & Accounting Inc is a corporation located at 5968 Kenai Spur Hwy in Kenai, Alaska that received a Coronavirus-related PPP loan from the SBA of $25,256.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Cross River Bank
Hammer Tax & Accounting Inc in Kenai, AK received a Paycheck Protection Loan of $25,256 through Cross River Bank, which was approved in May, 2020.
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, Hammer Tax & Accounting Inc's 2019 payroll expenses are estimated to be at least $121,229.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,410 per employee1
Reported PPP Proceed Usage:
On the PPP application, Hammer Tax & Accounting Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,256
Business Information - Hammer Tax & Accounting Inc in Kenai, AK
5968 Kenai Spur Hwy
Kenai, AK 99611
Tax Preparation Services
NAICS code 541213
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Kenai
In the Kenai area, 3 businesses in the "Tax Preparation Services" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 3) and received an average PPP loan of $19,541 (compared to this company's $25,256).
Similar Nearby Businesses Who Received PPP Funding:
My Tax Man Inc
Caribou Run Bookkeeping & Tax Service Inc
Industry PPP Comparison Statistics
Nationwide, 50,853 businesses in the "Tax Preparation Services" industry received a total of $1.1B 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, the same amount reported by Hammer Tax & Accounting Inc and received an average PPP loan of $21,684, 14% lower than this company's loan of $25,256.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!