PPP Loan Data — PEY Inc, Williamsburg, VA
PEY Inc is a corporation located at 5437 Richmond Road in Williamsburg, Virginia that received a Coronavirus-related PPP loan from the SBA of $45,800.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 38 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
PEY Inc in Williamsburg, VA received a Paycheck Protection Loan of $45,800 through Primis 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, PEY Inc's 2019 payroll expenses are estimated to be at least $219,840.
Based on their reported 38 jobs retained, this equals an estimated average yearly compensation of $5,785 per employee1
Reported PPP Proceed Usage:
On the PPP application, PEY Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $45,800
Business Information - PEY Inc in Williamsburg, VA
5437 Richmond Road
Williamsburg, VA 23188
NAICS code 722511
Business Owner Demographics
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Williamsburg
In the Williamsburg area, 55 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 24 employees (compared to this company's 38) and received an average PPP loan of $107,111 (compared to this company's $45,800).
Similar Nearby Businesses Who Received PPP Funding:
Giuseppes And Sons
H&C Ventures LLC
Free Range Juice LLC
Istanbul Grill LLC
Pizzeria Association 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, 42% lower than PEY Inc's reported 38 employees, and received an average PPP loan of $129,504, 183% higher than this company's loan of $45,800.
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Footnotes & Information
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