PPP Loan Data — Mitchell Enterprises, Inc, Greenville, SC
Mitchell Enterprises, Inc is a subchapter s corporation located at 828 Woods Crossing Rd in Greenville, South Carolina that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020. This business is a Play It Again Sports franchise.
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:Bank of Travelers Rest
Mitchell Enterprises, Inc in Greenville, SC received a Paycheck Protection Loan of $25,000 through Bank of Travelers Rest, which was approved in April, 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, Mitchell Enterprises, Inc's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Mitchell Enterprises, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $20,000
- Utilities: $1,000
- Rent: $4,000
Business Information - Mitchell Enterprises, Inc in Greenville, SC
828 Woods Crossing Rd
Greenville, SC 29607
Sporting Goods Stores
NAICS code 451110
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: Urban
Similar Companies near Greenville
In the Greenville area, 5 businesses in the "Sporting Goods Stores" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 4) and received an average PPP loan of $21,721 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Upstate Pro Shop LLC
Freehub Bicycles LLC
Top Left Lacrosse, LLC
Appalachian Outfitters SC Inc
Industry PPP Comparison Statistics
Nationwide, 13,835 businesses in the "Sporting Goods Stores" industry received a total of $738.33M 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 8 employees, 100% higher than Mitchell Enterprises, Inc's reported 4 employees, and received an average PPP loan of $53,367, 113% higher than this company's loan of $25,000.
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Footnotes & Information
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