PPP Loan Data — Hitherto Coffee & Gaming Parlor LLC, Greenfield, IN
Hitherto Coffee & Gaming Parlor LLC is a limited liability company (LLC) located at 1558 N State St in Greenfield, Indiana that received a Coronavirus-related PPP loan from the SBA of $45,915.00 in April, 2020.
The company has reported itself as a White owned business, and employed at least nineteen people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:The Huntington National Bank
Hitherto Coffee & Gaming Parlor LLC in Greenfield, IN received a Paycheck Protection Loan of $45,915 through The Huntington National 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, Hitherto Coffee & Gaming Parlor LLC's 2019 payroll expenses are estimated to be at least $220,392.
Based on their reported 19 jobs retained, this equals an estimated average yearly compensation of $11,600 per employee1
Reported PPP Proceed Usage:
On the PPP application, Hitherto Coffee & Gaming Parlor LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $45,915
Business Information - Hitherto Coffee & Gaming Parlor LLC in Greenfield, IN
1558 N State St
Greenfield, IN 46140
Coffee and Tea Manufacturing
NAICS code 311920
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 2,952 businesses in the "Coffee and Tea Manufacturing" industry received a total of $243.74M 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, 42% lower than Hitherto Coffee & Gaming Parlor LLC's reported 19 employees, and received an average PPP loan of $82,568, 80% higher than this company's loan of $45,915.
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Footnotes & Information
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