PPP Loan Data — Harless & Hugh Coffee, LLC, Bay City, MI
Harless & Hugh Coffee, LLC is a limited liability company (LLC) located at 1003 Washington Ave in Bay City, Michigan that received a Coronavirus-related PPP loan from the SBA of $47,008.00 in April, 2020.
The company has reported itself as a White female owned business, and employed at least fourteen people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:The Huntington National Bank
Harless & Hugh Coffee, LLC in Bay City, MI received a Paycheck Protection Loan of $47,008 through The Huntington National Bank, 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 June, 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, Harless & Hugh Coffee, LLC's 2019 payroll expenses are estimated to be at least $225,638.
Based on their reported 14 jobs retained, this equals an estimated average yearly compensation of $16,117 per employee1
Reported PPP Proceed Usage:
On the PPP application, Harless & Hugh Coffee, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $47,008
Business Information - Harless & Hugh Coffee, LLC in Bay City, MI
1003 Washington Ave
Bay City, MI 48708
Snack and Nonalcoholic Beverage Bars
NAICS code 722515
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Non-Veteran
LMI Zone: Y
Rural / Urban: Rural
Similar Companies near Bay City
In the Bay City area, 3 businesses in the "Snack and Nonalcoholic Beverage Bars" industry received a PPP loan. These local businesses reported an average of 21 employees (compared to this company's 14) and received an average PPP loan of $86,225 (compared to this company's $47,008).
Similar Nearby Businesses Who Received PPP Funding:
RES Enterprises, LLC
Bay City, MI
Industry PPP Comparison Statistics
Nationwide, 27,681 businesses in the "Snack and Nonalcoholic Beverage Bars" industry received a total of $1.44B 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 11 employees, 21% lower than Harless & Hugh Coffee, LLC's reported 14 employees, and received an average PPP loan of $52,130, 11% higher than this company's loan of $47,008.
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Footnotes & Information
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