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PPP Loan Data — Hometown Equity Mortgage, Saint Peters, MO

SBA PPP loan data, payroll data, and salaries for Hometown Equity Mortgage
MO

Hometown Equity Mortgage

Entity: Limited Liability Company (LLC)

Industry: Consumer Lending

Location: Saint Peters, MO

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Hometown Equity Mortgage is a limited liability company (LLC) located at 1 Mid Rivers Mall Dr in Saint Peters, Missouri that received a Coronavirus-related PPP loan from the SBA of $2,117,700.00 in April, 2020.

$ PPP Loan Information
Loan #2539097100

Loan Size:

$2.12M

Jobs Retained:

125

Loan Approved:

2020-04-10

Loan Status:

Ongoing Loan

Lender:

Sunwest Bank

Hometown Equity Mortgage in Saint Peters, MO received a Paycheck Protection Loan of $2.12M through Sunwest Bank, which was approved in April, 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

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Hometown Equity Mortgage's 2019 payroll expenses are estimated to be at least $10.16M.

Based on their reported 125 jobs retained, this equals an estimated average yearly compensation of $81,320 per employee1

Reported PPP Proceed Usage:

On the PPP application, Hometown Equity Mortgage reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $2,117,700
Because the loan received by Hometown Equity Mortgage is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Hometown Equity Mortgage in Saint Peters, MO

Hometown Equity Mortgage
1 Mid Rivers Mall Dr
Saint Peters, MO 63376

Business Industry:
Consumer Lending
NAICS code 522291

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: N

Rural / Urban: Urban

Saint Charles County, MO — SBA Office 0768 — Congressional District: MO-03

Similar Companies near Saint Peters

In the Saint Peters area, 2 businesses in the "Consumer Lending" industry received a PPP loan. These local businesses reported an average of 64 employees (compared to this company's 125) and received an average PPP loan of $1,069,152 (compared to this company's $2.12M).

Similar Nearby Businesses Who Received PPP Funding:

American Credit Services Management II LLC
Saint Peters, MO

$20,604 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 2,036 businesses in the "Consumer Lending" industry received a total of $294.22M 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 13 employees, 90% lower than Hometown Equity Mortgage's reported 125 employees, and received an average PPP loan of $144,509, 93% lower than this company's loan of $2.12M.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.

All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


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Source: www.federalpay.org/paycheck-protection-program/hometown-equity-mortgage-saint-peters-mo