PPP Loan Data — Kathy A Welch, Paintsville, KY
Kathy A Welch is a sole proprietorship located at 83 Track Rd in Paintsville, Kentucky that received a Coronavirus-related PPP loan from the SBA of $25,484.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:U.S. Bank, National Association
Kathy A Welch in Paintsville, KY received a Paycheck Protection Loan of $25,484 through U.S. 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 February, 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, Kathy A Welch's 2019 payroll expenses are estimated to be at least $122,323.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,581 per employee1
Reported PPP Proceed Usage:
On the PPP application, Kathy A Welch reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,484
Business Information - Kathy A Welch in Paintsville, KY
83 Track Rd
Paintsville, KY 41240
Other Accounting Services
NAICS code 541219
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 64,443 businesses in the "Other Accounting Services" industry received a total of $2.03B 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 3 employees, 25% lower than Kathy A Welch's reported 4 employees, and received an average PPP loan of $31,571, 24% higher than this company's loan of $25,484.
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Footnotes & Information
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