PPP Loan Data — Modern World, Inc, Tempe, AZ
Modern World, Inc
Location: Tempe, AZTweet This • Search All PPP Data
Modern World, Inc is a corporation located at 1812 Apache Blvd in Tempe, Arizona that received a Coronavirus-related PPP loan from the SBA of $25,460.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:BMO Harris Bank National Association
Modern World, Inc in Tempe, AZ received a Paycheck Protection Loan of $25,460 through BMO Harris Bank National Association, 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 May, 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, Modern World, Inc's 2019 payroll expenses are estimated to be at least $122,208.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $24,442 per employee1
Reported PPP Proceed Usage:
On the PPP application, Modern World, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,460
Business Information - Modern World, Inc in Tempe, AZ
1812 Apache Blvd
Tempe, AZ 85281
All Other Miscellaneous Store Retailers (except Tobacco Stores)
NAICS code 453998
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Tempe
In the Tempe area, 110 businesses in the "All Other Miscellaneous Store Retailers (except Tobacco Stores)" industry received a PPP loan. These local businesses reported an average of 9 employees (compared to this company's 5) and received an average PPP loan of $70,172 (compared to this company's $25,460).
Similar Nearby Businesses Who Received PPP Funding:
Tilton & Co., CPA's PC
Rock Junction Inc
Andrew Watson DBA Andrew Watson Consulting LLC
Industry PPP Comparison Statistics
Nationwide, 152,436 businesses in the "All Other Miscellaneous Store Retailers (except Tobacco Stores)" industry received a total of $5.23B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 4 employees, 20% lower than Modern World, Inc's reported 5 employees, and received an average PPP loan of $34,329, 35% higher than this company's loan of $25,460.
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Footnotes & Information
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