PPP Loan Data — Midnight Blue LLC, Campobello, SC
Midnight Blue LLC is a limited liability company (LLC) located at 605 N Main St. in Campobello, South Carolina that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Truist Bank d/b/a Branch Banking & Trust Co
Midnight Blue LLC in Campobello, SC received a Paycheck Protection Loan of $25,000 through Truist Bank d/b/a Branch Banking & Trust Co, 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 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, Midnight Blue LLC's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 9 jobs retained, this equals an estimated average yearly compensation of $13,333 per employee1
Reported PPP Proceed Usage:
On the PPP application, Midnight Blue LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Midnight Blue LLC in Campobello, SC
605 N Main St.
Campobello, SC 29322
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 Campobello
In the Campobello area, 7 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 14 employees (compared to this company's 9) and received an average PPP loan of $44,826 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Pizza House LLC
Dutch Plate II LLC
Buffalo Seafood House LLC
Midway BBQ Inc
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, 144% higher than Midnight Blue LLC's reported 9 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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