PPP Loan Data — Nancy's Fancys, LLC, Highlands, NC
Nancy's Fancys, LLC is a limited liability company (LLC) located at 322 Main St in Highlands, North Carolina that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Nancy's Fancys, LLC in Highlands, NC received a Paycheck Protection Loan of $25,000 through Regions 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, Nancy's Fancys, LLC's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Nancy's Fancys, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Nancy's Fancys, LLC in Highlands, NC
322 Main St
Highlands, NC 28741
Women's Clothing Stores
NAICS code 448120
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Highlands
In the Highlands area, 8 businesses in the "Women's Clothing Stores" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 2) and received an average PPP loan of $30,665 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Vivace Of Highlands LLC
Wits End Shop
Allison Diane Clothing, LLC
Spoiled Rotten Of Highlands, Inc
Elevation Of Highlands, Inc
Industry PPP Comparison Statistics
Nationwide, 43,984 businesses in the "Women's Clothing Stores" industry received a total of $1.11B 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 3 employees, 50% higher than Nancy's Fancys, LLC's reported 2 employees, and received an average PPP loan of $25,247, 1% higher than this company's loan of $25,000.
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Footnotes & Information
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