PPP Loan Data — Pirates Corner, Florence, AL
Pirates Corner is a subchapter s corporation located at 8190 Highway 43 N in Florence, Alabama that received a Coronavirus-related PPP loan from the SBA of $46,166.00 in April, 2020.
The company has reported itself as a male veteran owned business, and employed at least twelve people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:First Southern Bank
Pirates Corner in Florence, AL received a Paycheck Protection Loan of $46,166 through First Southern 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 January, 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, Pirates Corner's 2019 payroll expenses are estimated to be at least $221,597.
Based on their reported 12 jobs retained, this equals an estimated average yearly compensation of $18,466 per employee1
Reported PPP Proceed Usage:
On the PPP application, Pirates Corner reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $34,625
- Health Care: $11,542
Business Information - Pirates Corner in Florence, AL
8190 Highway 43 N
Florence, AL 35634
Gasoline Stations with Convenience Stores
NAICS code 447110
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Florence
In the Florence area, 8 businesses in the "Gasoline Stations with Convenience Stores" industry received a PPP loan. These local businesses reported an average of 7 employees (compared to this company's 12) and received an average PPP loan of $24,898 (compared to this company's $46,166).
Similar Nearby Businesses Who Received PPP Funding:
Florence 16, LLC
Crossroads Market LLC
Mccoy & Company Inc
SRI Venkateshwara Inc
Crotts Investments, LLC
ST. Florian Gas
Industry PPP Comparison Statistics
Nationwide, 45,026 businesses in the "Gasoline Stations with Convenience Stores" industry received a total of $2.06B 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 10 employees, 17% lower than Pirates Corner's reported 12 employees, and received an average PPP loan of $45,821, 1% lower than this company's loan of $46,166.
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Footnotes & Information
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