PPP Loan Data — PG Tavern, Inc, Harvard, IL
PG Tavern, Inc is a subchapter s corporation located at 337 Division St in Harvard, Illinois that received a Coronavirus-related PPP loan from the SBA of $24,950.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least seven people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
PG Tavern, Inc in Harvard, IL received a Paycheck Protection Loan of $24,950 through Byron Bank, 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 February, 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, PG Tavern, Inc's 2019 payroll expenses are estimated to be at least $119,760.
Based on their reported 7 jobs retained, this equals an estimated average yearly compensation of $17,109 per employee1
Reported PPP Proceed Usage:
On the PPP application, PG Tavern, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $19,960
- Utilities: $499
- Rent: $3,743
- Debt Interest: $749
Business Information - PG Tavern, Inc in Harvard, IL
337 Division St
Harvard, IL 60033
Drinking Places (Alcoholic Beverages)
NAICS code 722410
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Harvard
In the Harvard area, 8 businesses in the "Drinking Places (Alcoholic Beverages)" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 7) and received an average PPP loan of $15,495 (compared to this company's $24,950).
Similar Nearby Businesses Who Received PPP Funding:
Lucky 7 'S Gaming Cafe, LLC
Video Wonders Inc
Harts Sallon LLC
Industry PPP Comparison Statistics
Nationwide, 46,930 businesses in the "Drinking Places (Alcoholic Beverages)" industry received a total of $2.81B 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 12 employees, 71% higher than PG Tavern, Inc's reported 7 employees, and received an average PPP loan of $59,863, 140% higher than this company's loan of $24,950.
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Footnotes & Information
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