PPP Loan Data — Lower Shore Land Trust Inc, Snow Hill, MD
Lower Shore Land Trust Inc is a non-profit organization located at 100 River St in Snow Hill, Maryland that received a Coronavirus-related PPP loan from the SBA of $47,122.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bank of Ocean City
Lower Shore Land Trust Inc in Snow Hill, MD received a Paycheck Protection Loan of $47,122 through Bank of Ocean City, 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 January, 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, Lower Shore Land Trust Inc's 2019 payroll expenses are estimated to be at least $226,186.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $37,698 per employee1
Reported PPP Proceed Usage:
On the PPP application, Lower Shore Land Trust Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $47,122
Business Information - Lower Shore Land Trust Inc in Snow Hill, MD
100 River St
Snow Hill, MD 21863
Trusts, Estates, and Agency Accounts
NAICS code 525920
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 1,168 businesses in the "Trusts, Estates, and Agency Accounts" industry received a total of $84.36M 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 7 employees, 17% higher than Lower Shore Land Trust Inc's reported 6 employees, and received an average PPP loan of $72,228, 53% higher than this company's loan of $47,122.
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Footnotes & Information
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