PPP Loan Data — LL & M, Inc, Inwood, WV
LL & M, Inc is a subchapter s corporation located at 72 Pedal Car Drive in Inwood, West Virginia that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.
The company has reported itself as a White female owned business, and employed at least twelve people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:City National Bank of West Virginia
LL & M, Inc in Inwood, WV received a Paycheck Protection Loan of $25,000 through City National Bank of West Virginia, 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, LL & M, Inc's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 12 jobs retained, this equals an estimated average yearly compensation of $10,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, LL & M, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $20,000
- Rent: $5,000
Business Information - LL & M, Inc in Inwood, WV
72 Pedal Car Drive
Inwood, WV 25428
NAICS code 722511
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Inwood
In the Inwood area, 19 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 13 employees (compared to this company's 12) and received an average PPP loan of $45,855 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Ronnies Place LLC
The Dining Room
Moby III, LLC
Guiseppes II Enterprises Inc
Hobie Tucker, 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, 83% higher than LL & M, Inc's reported 12 employees, and received an average PPP loan of $129,504, 418% higher than this company's loan of $25,000.
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Footnotes & Information
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