PPP Loan Data — Mike's Glass, Senatobia, MS
Mike's Glass is a sole proprietorship located at 531 W. Main St in Senatobia, Mississippi 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:First Financial Bank
Mike's Glass in Senatobia, MS received a Paycheck Protection Loan of $25,000 through First Financial Bank, 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 December, 2020.
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, Mike's Glass' 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $20,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Mike's Glass reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Mike's Glass in Senatobia, MS
531 W. Main St
Senatobia, MS 38668
Automotive Glass Replacement Shops
NAICS code 811122
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 4,495 businesses in the "Automotive Glass Replacement Shops" industry received a total of $197.78M 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 5 employees, 17% lower than Mike's Glass' reported 6 employees, and received an average PPP loan of $43,999, 76% higher than this company's loan of $25,000.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!