PPP Loan Data — Paro, Inc, Merrillville, IN
Paro, Inc is a subchapter s corporation located at 65 W 68th Place in Merrillville, Indiana that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Paro, Inc in Merrillville, IN received a Paycheck Protection Loan of $25,000 through Centier 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, Paro, Inc's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 7 jobs retained, this equals an estimated average yearly compensation of $17,143 per employee1
Reported PPP Proceed Usage:
On the PPP application, Paro, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Paro, Inc in Merrillville, IN
65 W 68th Place
Merrillville, IN 46410
NAICS code 722511
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Merrillville
In the Merrillville area, 46 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 23 employees (compared to this company's 7) and received an average PPP loan of $101,733 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Supermercado Mi Poblanita, Inc
Catch Merrillville LLC
Chi-Town Custard & Burgers Of Merrillvil
RM Restaurant Group LLC
Pepe's Off Broadway Incorporated
PHY Brothers Inc/House Of Kobe II
Merrillville 2548 Inc
Industry PPP Comparison Statistics
Nationwide, 328,914 businesses in the "Full-Service Restaurants" industry received a total of $42.6B in PPP loans. These businesses account for 3% of total PPP applications submitted, and received 5% of the total PPP funding allocated.
PPP recipients in this industry report an average of 22 employees, 214% higher than Paro, Inc's reported 7 employees, and received an average PPP loan of $129,504, 418% higher than this company's loan of $25,000.
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Footnotes & Information
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