PPP Loan Data — Mountain Valley Corp, Waynesboro, VA
Mountain Valley Corp is a subchapter s corporation located at 650 Lew Dewitt Blvd in Waynesboro, Virginia that received a Coronavirus-related PPP loan from the SBA of $1,556,900.00 in April, 2020. This business is a Burger King franchise.
The company has reported itself as a male owned business, and employed at least 452 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Truist Bank d/b/a Branch Banking & Trust Co
Mountain Valley Corp in Waynesboro, VA received a Paycheck Protection Loan of $1.56M 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 January, 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, Mountain Valley Corp's 2019 payroll expenses are estimated to be at least $7.47M.
Based on their reported 452 jobs retained, this equals an estimated average yearly compensation of $16,533 per employee1
Reported PPP Proceed Usage:
On the PPP application, Mountain Valley Corp reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,556,900
Business Information - Mountain Valley Corp in Waynesboro, VA
650 Lew Dewitt Blvd
Waynesboro, VA 22980
NAICS code 722513
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Waynesboro
In the Waynesboro area, 13 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 67 employees (compared to this company's 452) and received an average PPP loan of $271,587 (compared to this company's $1.56M).
Similar Nearby Businesses Who Received PPP Funding:
Fishersville Luchbox & Market LLC
Hope Kitchen LLC
Sam's Hot Dogs, Inc
Kline's Ice Cream Inc
Hops Kitchen, LLC
3 Monkeys LLC
Sam's Hot Dogs- Waynesboro
Industry PPP Comparison Statistics
Nationwide, 137,629 businesses in the "Limited-Service Restaurants" industry received a total of $13.9B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 21 employees, 95% lower than Mountain Valley Corp's reported 452 employees, and received an average PPP loan of $100,980, 94% lower than this company's loan of $1.56M.
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Footnotes & Information
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