PPP Loan Data — Joe Art LLC, Bethlehem, PA
Joe Art LLC is a limited liability company (LLC) located at 3650 Nazareth Pike in Bethlehem, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $24,900.00 in May, 2020.
The company has reported itself as a male owned business, and employed at least eight people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:PNC Bank, National Association
Joe Art LLC in Bethlehem, PA received a Paycheck Protection Loan of $24,900 through PNC Bank, National Association, which was approved in May, 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, Joe Art LLC's 2019 payroll expenses are estimated to be at least $119,520.
Based on their reported 8 jobs retained, this equals an estimated average yearly compensation of $14,940 per employee1
Reported PPP Proceed Usage:
On the PPP application, Joe Art LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,900
Business Information - Joe Art LLC in Bethlehem, PA
3650 Nazareth Pike
Bethlehem, PA 18020
NAICS code 999990
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Bethlehem
In the Bethlehem area, 2 businesses in the "Unclassified Establishments" industry received a PPP loan. These local businesses reported an average of 10 employees (compared to this company's 8) and received an average PPP loan of $22,200 (compared to this company's $24,900).
Similar Nearby Businesses Who Received PPP Funding:
Industry PPP Comparison Statistics
Nationwide, 85,647 businesses in the "Unclassified Establishments" industry received a total of $3.67B 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 10 employees, 25% higher than Joe Art LLC's reported 8 employees, and received an average PPP loan of $42,878, 72% higher than this company's loan of $24,900.
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Footnotes & Information
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