PPP Loan Data — HG3 Enterprises LLC, Hazel Green, AL
HG3 Enterprises LLC is a limited liability company (LLC) located at 3039 Bobo Section Rd in Hazel Green, Alabama that received a Coronavirus-related PPP loan from the SBA of $25,483.00 in April, 2020.
The company has reported itself as a female owned business, and employed at least three people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
HG3 Enterprises LLC in Hazel Green, AL received a Paycheck Protection Loan of $25,483 through BBVA USA, 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, HG3 Enterprises LLC's 2019 payroll expenses are estimated to be at least $122,318.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,773 per employee1
Reported PPP Proceed Usage:
On the PPP application, HG3 Enterprises LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,483
Business Information - HG3 Enterprises LLC in Hazel Green, AL
3039 Bobo Section Rd
Hazel Green, AL 35750
Painting and Wall Covering Contractors
NAICS code 238320
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Hazel Green
In the Hazel Green area, 3 businesses in the "Painting and Wall Covering Contractors" 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 $16,074 (compared to this company's $25,483).
Similar Nearby Businesses Who Received PPP Funding:
Hazel Green, AL
Hazel Green, AL
Industry PPP Comparison Statistics
Nationwide, 50,571 businesses in the "Painting and Wall Covering Contractors" industry received a total of $2.46B 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 5 employees, 67% higher than HG3 Enterprises LLC's reported 3 employees, and received an average PPP loan of $48,668, 91% higher than this company's loan of $25,483.
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Footnotes & Information
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