PPP Loan Data — Nanak Incorporated, Wilmington, NC
Nanak Incorporated is a corporation located at 6134 Carolina Beach Rd in Wilmington, North 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
Nanak Incorporated in Wilmington, NC received a Paycheck Protection Loan of $25,000 through First Bank, 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, Nanak Incorporated's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 8 jobs retained, this equals an estimated average yearly compensation of $15,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Nanak Incorporated reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Nanak Incorporated in Wilmington, NC
6134 Carolina Beach Rd
Wilmington, NC 28412
NAICS code 445120
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Wilmington
In the Wilmington area, 3 businesses in the "Convenience Stores" industry received a PPP loan. These local businesses reported an average of 6 employees (compared to this company's 8) and received an average PPP loan of $24,519 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Monkey Market Of Wilmington, Inc
Industry PPP Comparison Statistics
Nationwide, 30,055 businesses in the "Convenience Stores" industry received a total of $856.22M 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 6 employees, 25% lower than Nanak Incorporated's reported 8 employees, and received an average PPP loan of $28,488, 14% higher than this company's loan of $25,000.
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Footnotes & Information
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