PPP Loan Data — Kwik & EZ, LLC, Cumberland, MD
Kwik & EZ, LLC is a limited liability company (LLC) located at 14305 National Hwy in Cumberland, Maryland that received a Coronavirus-related PPP loan from the SBA of $25,200.00 in April, 2020.
The company has reported itself as a female owned business, and employed at least four people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Kwik & EZ, LLC in Cumberland, MD received a Paycheck Protection Loan of $25,200 through Alliance Bank, which was approved in April, 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 December, 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, Kwik & EZ, LLC's 2019 payroll expenses are estimated to be at least $120,960.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,240 per employee1
Reported PPP Proceed Usage:
On the PPP application, Kwik & EZ, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
- Utilities: $200
Business Information - Kwik & EZ, LLC in Cumberland, MD
14305 National Hwy
Cumberland, MD 21502
Gasoline Stations with Convenience Stores
NAICS code 447110
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Cumberland
In the Cumberland area, 7 businesses in the "Gasoline Stations with Convenience Stores" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 4) and received an average PPP loan of $17,194 (compared to this company's $25,200).
Similar Nearby Businesses Who Received PPP Funding:
Industrial Blvd Fast Fueling Inc
Penneys One Stop
PNG Petroleum Inc
Industry PPP Comparison Statistics
Nationwide, 45,026 businesses in the "Gasoline Stations with Convenience Stores" industry received a total of $2.06B 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, 150% higher than Kwik & EZ, LLC's reported 4 employees, and received an average PPP loan of $45,821, 82% higher than this company's loan of $25,200.
FederalPay's PPP Information Policy
Footnotes & Information
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