PPP Loan Data — Laughing Moon, Madison, GA
Laughing Moon is a sole proprietorship located at 183 S Main St in Madison, Georgia that received a Coronavirus-related PPP loan from the SBA of $25,489.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bank of Madison
Laughing Moon in Madison, GA received a Paycheck Protection Loan of $25,489 through Bank of Madison, 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 April, 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, Laughing Moon's 2019 payroll expenses are estimated to be at least $122,347.
Based on their reported 10 jobs retained, this equals an estimated average yearly compensation of $12,235 per employee1
Reported PPP Proceed Usage:
On the PPP application, Laughing Moon reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $19,116
- Utilities: $3,186
- Rent: $3,186
Business Information - Laughing Moon in Madison, GA
183 S Main St
Madison, GA 30650
Gift, Novelty, and Souvenir Stores
NAICS code 453220
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Madison
In the Madison area, 3 businesses in the "Gift, Novelty, and Souvenir Stores" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 10) and received an average PPP loan of $20,302 (compared to this company's $25,489).
Similar Nearby Businesses Who Received PPP Funding:
Industry PPP Comparison Statistics
Nationwide, 17,351 businesses in the "Gift, Novelty, and Souvenir Stores" industry received a total of $573.27M 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 6 employees, 40% lower than Laughing Moon's reported 10 employees, and received an average PPP loan of $33,040, 30% higher than this company's loan of $25,489.
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Footnotes & Information
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