PPP Loan Data — Heritage Operating LLC, Elizabethton, TN
Heritage Operating LLC is a limited liability company (LLC) located at 101 E F St in Elizabethton, Tennessee that received a Coronavirus-related PPP loan from the SBA of $1,996,900.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Heritage Operating LLC in Elizabethton, TN received a Paycheck Protection Loan of $2M through Citizens 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 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, Heritage Operating LLC's 2019 payroll expenses are estimated to be at least $9.59M.
Based on their reported 284 jobs retained, this equals an estimated average yearly compensation of $33,750 per employee1
Reported PPP Proceed Usage:
On the PPP application, Heritage Operating LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,996,900
Business Information - Heritage Operating LLC in Elizabethton, TN
101 E F St
Elizabethton, TN 37643
Funeral Homes and Funeral Services
NAICS code 812210
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: Y
Rural / Urban: Rural
Similar Companies near Elizabethton
In the Elizabethton area, 2 businesses in the "Funeral Homes and Funeral Services" industry received a PPP loan. These local businesses reported an average of 148 employees (compared to this company's 284) and received an average PPP loan of $1,016,216 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Johnson-Arrowood Funeral Home Of Church Hill, LLC
Church Hill, TN
Industry PPP Comparison Statistics
Nationwide, 10,120 businesses in the "Funeral Homes and Funeral Services" industry received a total of $621.85M 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 8 employees, 97% lower than Heritage Operating LLC's reported 284 employees, and received an average PPP loan of $61,448, 97% lower than this company's loan of $2M.
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Footnotes & Information
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