PPP Loan Data — Jarrells Pharmacy Inc, Daniels, WV
Jarrells Pharmacy Inc is a subchapter s corporation located at 2122 in Daniels, West Virginia that received a Coronavirus-related PPP loan from the SBA of $46,720.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:JPMorgan Chase Bank, National Association
Jarrells Pharmacy Inc in Daniels, WV received a Paycheck Protection Loan of $46,720 through JPMorgan Chase Bank, National Association, which was approved in May, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in May, 2021.
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, Jarrells Pharmacy Inc's 2019 payroll expenses are estimated to be at least $224,256.
Based on their reported 7 jobs retained, this equals an estimated average yearly compensation of $32,037 per employee1
Reported PPP Proceed Usage:
On the PPP application, Jarrells Pharmacy Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $44,095
- Utilities: $500
- Rent: $2,125
Business Information - Jarrells Pharmacy Inc in Daniels, WV
Daniels, WV 25832
Pharmacies and Drug Stores
NAICS code 446110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Daniels
In the Daniels area, 2 businesses in the "Pharmacies and Drug Stores" industry received a PPP loan. These local businesses reported an average of 7 employees (compared to this company's 7) and received an average PPP loan of $51,610 (compared to this company's $46,720).
Similar Nearby Businesses Who Received PPP Funding:
Glen Daniel Pharmacy, Inc
Industry PPP Comparison Statistics
Nationwide, 18,035 businesses in the "Pharmacies and Drug Stores" industry received a total of $1.7B 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 12 employees, 71% higher than Jarrells Pharmacy Inc's reported 7 employees, and received an average PPP loan of $94,214, 102% higher than this company's loan of $46,720.
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Footnotes & Information
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