PPP Loan Data — Hanson's Party Store Inc, Barryton, MI
Hanson's Party Store Inc is a limited liability company (LLC) located at 19585 30th Ave in Barryton, Michigan that received a Coronavirus-related PPP loan from the SBA of $45,800.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Hanson's Party Store Inc in Barryton, MI received a Paycheck Protection Loan of $45,800 through Isabella Bank, which was approved in April, 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, Hanson's Party Store Inc's 2019 payroll expenses are estimated to be at least $219,840.
Based on their reported 17 jobs retained, this equals an estimated average yearly compensation of $12,932 per employee1
Reported PPP Proceed Usage:
On the PPP application, Hanson's Party Store Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $34,400
- Utilities: $6,400
- Rent: $5,000
Business Information - Hanson's Party Store Inc in Barryton, MI
19585 30th Ave
Barryton, MI 49305
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 Barryton
In the Barryton area, 3 businesses in the "Gasoline Stations with Convenience Stores" industry received a PPP loan. These local businesses reported an average of 11 employees (compared to this company's 17) and received an average PPP loan of $34,833 (compared to this company's $45,800).
Similar Nearby Businesses Who Received PPP Funding:
Bay Of The East Inc
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, 41% lower than Hanson's Party Store Inc's reported 17 employees, and received an average PPP loan of $45,821, 0% higher than this company's loan of $45,800.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!