PPP Loan Data — Preferred Family Pharmacy, LLC, Charleston, TN
Preferred Family Pharmacy, LLC is a limited liability company (LLC) located at 8896 Hiwassee St in Charleston, Tennessee that received a Coronavirus-related PPP loan from the SBA of $46,250.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Preferred Family Pharmacy, LLC in Charleston, TN received a Paycheck Protection Loan of $46,250 through Pinnacle 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 May, 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, Preferred Family Pharmacy, LLC's 2019 payroll expenses are estimated to be at least $222,000.
Based on their reported 8 jobs retained, this equals an estimated average yearly compensation of $27,750 per employee1
Reported PPP Proceed Usage:
On the PPP application, Preferred Family Pharmacy, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,250
Business Information - Preferred Family Pharmacy, LLC in Charleston, TN
8896 Hiwassee St
Charleston, TN 37310
Pharmacies and Drug Stores
NAICS code 446110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Charleston
In the Charleston area, 8 businesses in the "Pharmacies and Drug Stores" industry received a PPP loan. These local businesses reported an average of 16 employees (compared to this company's 8) and received an average PPP loan of $124,192 (compared to this company's $46,250).
Similar Nearby Businesses Who Received PPP Funding:
Wolf Management Inc
Cleveland Worx LLC
Medical Center Pharmacy Inc
Central Drug Company
Chad Smith DBA None
Industry PPP Comparison Statistics
Nationwide, 18,035 businesses in the "Pharmacies and Drug Stores" industry received a total of $1.7B 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, 50% higher than Preferred Family Pharmacy, LLC's reported 8 employees, and received an average PPP loan of $94,214, 104% higher than this company's loan of $46,250.
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Footnotes & Information
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