PPP Loan Data — Petland, Inc, Chillicothe, OH
Petland, Inc is a corporation located at 250 Riverside St in Chillicothe, Ohio that received a Coronavirus-related PPP loan from the SBA of $2,137,282.00 in May, 2020.
The company has reported itself as a male owned business, and employed at least 321 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:The Huntington National Bank
Petland, Inc in Chillicothe, OH received a Paycheck Protection Loan of $2.14M through The Huntington National Bank, 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, Petland, Inc's 2019 payroll expenses are estimated to be at least $10.26M.
Based on their reported 321 jobs retained, this equals an estimated average yearly compensation of $31,959 per employee1
Reported PPP Proceed Usage:
On the PPP application, Petland, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,137,282
Business Information - Petland, Inc in Chillicothe, OH
250 Riverside St
Chillicothe, OH 45601
Pet and Pet Supplies Stores
NAICS code 453910
Business Owner Demographics
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 5,559 businesses in the "Pet and Pet Supplies Stores" industry received a total of $268.67M 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 8 employees, 98% lower than Petland, Inc's reported 321 employees, and received an average PPP loan of $48,330, 98% lower than this company's loan of $2.14M.
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Footnotes & Information
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