PPP Loan Data — Nice & Easy Gas And Mini Mart, Hammond, IN
Nice & Easy Gas And Mini Mart is a corporation located at 4508 Calumet Ave in Hammond, Indiana that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.
The company has reported itself as a male owned business, and employed at least two people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:American Community Bank of Indiana
Nice & Easy Gas And Mini Mart in Hammond, IN received a Paycheck Protection Loan of $25,000 through American Community Bank of Indiana, which was approved in May, 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, Nice & Easy Gas And Mini Mart'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, Nice & Easy Gas And Mini Mart reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $23,000
- Utilities: $2,000
Business Information - Nice & Easy Gas And Mini Mart in Hammond, IN
4508 Calumet Ave
Hammond, IN 46327
Gasoline Stations with Convenience Stores
NAICS code 447110
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 45,026 businesses in the "Gasoline Stations with Convenience Stores" industry received a total of $2.06B 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 10 employees, 400% higher than Nice & Easy Gas And Mini Mart's reported 2 employees, and received an average PPP loan of $45,821, 83% higher than this company's loan of $25,000.
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Footnotes & Information
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