PPP Loan Data — High Waters, Inc, Durham, NC
High Waters, Inc
Location: Durham, NCTweet This • Search All PPP Data
High Waters, Inc is a corporation located at 2014 Spring Creek Dr in Durham, North Carolina that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in August, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Fifth Third Bank
High Waters, Inc in Durham, NC received a Paycheck Protection Loan of $25,000 through Fifth Third Bank, which was approved in August, 2020.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
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, High Waters, Inc's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, High Waters, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - High Waters, Inc in Durham, NC
2014 Spring Creek Dr
Durham, NC 27704
All Other Miscellaneous Store Retailers (except Tobacco Stores)
NAICS code 453998
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Durham
In the Durham area, 71 businesses in the "All Other Miscellaneous Store Retailers (except Tobacco Stores)" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 3) and received an average PPP loan of $27,947 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Irene Cornejo Cornejo
El Vaquero Fashion De Durham LLC
Hamilton H. C. LLC
Crystals And Things
AMB Transport LLC
Industry PPP Comparison Statistics
Nationwide, 152,436 businesses in the "All Other Miscellaneous Store Retailers (except Tobacco Stores)" industry received a total of $5.23B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 4 employees, 33% higher than High Waters, Inc's reported 3 employees, and received an average PPP loan of $34,329, 37% higher than this company's loan of $25,000.
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