PPP Loan Data — Matt Coffey, CPA-PLLC, Terrell, NC
Matt Coffey, CPA-PLLC is a subchapter s corporation located at 7825 Nc Hwy 150e Suite 6 in Terrell, North Carolina that received a Coronavirus-related PPP loan from the SBA of $46,800.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least four people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:First National Bank of Pennsylvania
Matt Coffey, CPA-PLLC in Terrell, NC received a Paycheck Protection Loan of $46,800 through First National Bank of Pennsylvania, 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 June, 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, Matt Coffey, CPA-PLLC's 2019 payroll expenses are estimated to be at least $224,640.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $56,160 per employee1
Reported PPP Proceed Usage:
On the PPP application, Matt Coffey, CPA-PLLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,800
Business Information - Matt Coffey, CPA-PLLC in Terrell, NC
7825 Nc Hwy 150e Suite 6
Terrell, NC 28682
All Other Business Support Services
NAICS code 561499
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Terrell
In the Terrell area, 6 businesses in the "All Other Business Support Services" industry received a PPP loan. These local businesses reported an average of 7 employees (compared to this company's 4) and received an average PPP loan of $23,967 (compared to this company's $46,800).
Similar Nearby Businesses Who Received PPP Funding:
Foothills Grocery & Deli LLC
Berry Sign And Service
SNS Partnership LLC
H. Randle Wood
Pure Fitness Inc
Industry PPP Comparison Statistics
Nationwide, 53,190 businesses in the "All Other Business Support Services" industry received a total of $2.63B 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, 50% higher than Matt Coffey, CPA-PLLC's reported 4 employees, and received an average PPP loan of $49,465, 6% higher than this company's loan of $46,800.
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Footnotes & Information
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