PPP Loan Data — Linda Gibson, Ashford, AL
Linda Gibson is a sole proprietorship located at 425 North Broadway in Ashford, Alabama that received a Coronavirus-related PPP loan from the SBA of $24,820.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Square Capital, LLC
Linda Gibson in Ashford, AL received a Paycheck Protection Loan of $24,820 through Square Capital, LLC, which was approved in May, 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, Linda Gibson's 2019 payroll expenses are estimated to be at least $119,136.
Based on their reported 20 jobs retained, this equals an estimated average yearly compensation of $5,957 per employee1
Reported PPP Proceed Usage:
On the PPP application, Linda Gibson reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $18,615
- Utilities: $3,103
- Mortgage Interest: $3,103
Business Information - Linda Gibson in Ashford, AL
425 North Broadway
Ashford, AL 36312
NAICS code 722511
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Ashford
In the Ashford area, 5 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 8 employees (compared to this company's 20) and received an average PPP loan of $12,313 (compared to this company's $24,820).
Similar Nearby Businesses Who Received PPP Funding:
Chambers Investments LLC
Broadway Cafe Inc
HWY 51 Burgers And More LLC
Industry PPP Comparison Statistics
Nationwide, 328,914 businesses in the "Full-Service Restaurants" industry received a total of $42.6B in PPP loans. These businesses account for 3% of total PPP applications submitted, and received 5% of the total PPP funding allocated.
PPP recipients in this industry report an average of 22 employees, 10% higher than Linda Gibson's reported 20 employees, and received an average PPP loan of $129,504, 422% higher than this company's loan of $24,820.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!