PPP Loan Data — Hurst Limited LLC, Minerva, OH
Hurst Limited LLC is a limited liability company (LLC) located at 916 E Lincolnway in Minerva, Ohio that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in July, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:PNC Bank, National Association
Hurst Limited LLC in Minerva, OH received a Paycheck Protection Loan of $25,000 through PNC Bank, National Association, which was approved in July, 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, Hurst Limited LLC's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 9 jobs retained, this equals an estimated average yearly compensation of $13,333 per employee1
Reported PPP Proceed Usage:
On the PPP application, Hurst Limited LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Hurst Limited LLC in Minerva, OH
916 E Lincolnway
Minerva, OH 44657
NAICS code 812112
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Minerva
In the Minerva area, 4 businesses in the "Beauty Salons" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 9) and received an average PPP loan of $8,841 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Industry PPP Comparison Statistics
Nationwide, 489,088 businesses in the "Beauty Salons" industry received a total of $9.13B in PPP loans. These businesses account for 4% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 2 employees, 78% lower than Hurst Limited LLC's reported 9 employees, and received an average PPP loan of $18,663, 25% lower than this company's loan of $25,000.
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Footnotes & Information
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