PPP Loan Data — Nsto, LLC, Richmond, VA
Nsto, LLC is a limited liability company (LLC) located at 3301 W Moore Street in Richmond, Virginia that received a Coronavirus-related PPP loan from the SBA of $1,604,000.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Truist Bank d/b/a Branch Banking & Trust Co
Nsto, LLC in Richmond, VA received a Paycheck Protection Loan of $1.6M 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 April, 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, Nsto, LLC's 2019 payroll expenses are estimated to be at least $7.7M.
Based on their reported 138 jobs retained, this equals an estimated average yearly compensation of $55,791 per employee1
Reported PPP Proceed Usage:
On the PPP application, Nsto, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,604,000
Business Information - Nsto, LLC in Richmond, VA
3301 W Moore Street
Richmond, VA 23230
Other Clothing Stores
NAICS code 448190
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Richmond
In the Richmond area, 8 businesses in the "Other Clothing Stores" industry received a PPP loan. These local businesses reported an average of 19 employees (compared to this company's 138) and received an average PPP loan of $218,850 (compared to this company's $1.6M).
Similar Nearby Businesses Who Received PPP Funding:
Haberdasher Corporate Apparel LLC
Just Wright LLC
Howard Fitts III
Industry PPP Comparison Statistics
Nationwide, 19,419 businesses in the "Other Clothing Stores" industry received a total of $642.94M 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 5 employees, 96% lower than Nsto, LLC's reported 138 employees, and received an average PPP loan of $33,109, 98% lower than this company's loan of $1.6M.
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Footnotes & Information
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