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PPP Loan Data — Looney Birds, Inc, Avon, IN

SBA PPP loan data, payroll data, and salaries for Looney Birds, Inc

FRANCHISE

IN

Looney Birds, Inc

Entity: Subchapter S Corporation

Industry: All Other Miscellaneous Store Retailers (except Tobacco Stores)

Franchise: Wild Birds Unlimited

Location: Avon, IN

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Looney Birds, Inc is a subchapter s corporation located at 8100 E Us Hwy 36 Suite O in Avon, Indiana that received a Coronavirus-related PPP loan from the SBA of $25,058.00 in April, 2020. This business is a Wild Birds Unlimited franchise.

The company has reported itself as a White female owned business, and employed at least six people during the applicable loan loan period.

$ PPP Loan Information
Loan #2421797310

Loan Size:

$25,058

Jobs Retained:

6

Loan Approved:

2020-04-29

Loan Status:

Paid in Full or Forgiven

Lender:

First Bank of the Lake

Looney Birds, Inc in Avon, IN received a Paycheck Protection Loan of $25,058 through First Bank of the Lake, 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 May, 2021.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Looney Birds, Inc's 2019 payroll expenses are estimated to be at least $120,278.

Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $20,046 per employee1

Reported PPP Proceed Usage:

On the PPP application, Looney Birds, Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $25,058

Business Information - Looney Birds, Inc in Avon, IN

Looney Birds, Inc
8100 E Us Hwy 36 Suite O
Avon, IN 46123

Business Owner Demographics

Race: White

Ethnicity: Not Hispanic or Latino

Gender: Female Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age:

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Hendricks County, IN — SBA Office 0562 — Congressional District: IN-04

Similar Companies near Avon

In the Avon area, 35 businesses in the "All Other Miscellaneous Store Retailers (except Tobacco Stores)" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 6) and received an average PPP loan of $26,901 (compared to this company's $25,058).

Industry PPP Comparison Statistics

Nationwide, 152,436 businesses in the "All Other Miscellaneous Store Retailers (except Tobacco Stores)" industry received a total of $5.23B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.

PPP recipients in this industry report an average of 4 employees, 33% lower than Looney Birds, Inc's reported 6 employees, and received an average PPP loan of $34,329, 37% higher than this company's loan of $25,058.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.

All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

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Footnotes & Information

1. Estimations for informational purposes only. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


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Source: www.federalpay.org/paycheck-protection-program/looney-birds-inc-avon-in