PPP Loan Data — Price Street Partners Inc, Springfield, IL
Price Street Partners Inc is a corporation located at 2815 S Price Ave in Springfield, Illinois that received a Coronavirus-related PPP loan from the SBA of $46,484.00 in January, 2021.
The company has reported itself as a male owned business, and employed at least fifteen people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Price Street Partners Inc in Springfield, IL received a Paycheck Protection Loan of $46,484 through Marine Bank, which was approved 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, Price Street Partners Inc's 2019 payroll expenses are estimated to be at least $223,123.
Based on their reported 15 jobs retained, this equals an estimated average yearly compensation of $14,875 per employee1
Reported PPP Proceed Usage:
On the PPP application, Price Street Partners Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,479
- Utilities: $1
Business Information - Price Street Partners Inc in Springfield, IL
2815 S Price Ave
Springfield, IL 62704
NAICS code 722511
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Springfield
In the Springfield area, 110 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 18 employees (compared to this company's 15) and received an average PPP loan of $82,239 (compared to this company's $46,484).
Similar Nearby Businesses Who Received PPP Funding:
Little Saigon Restaurant Inc
DL Kelley's Properties, LLC
Clay's Popeye's BBQ
KE Rong Chen
Boyds New Generation
Heartland Apple Springfield, LLC
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, 47% higher than Price Street Partners Inc's reported 15 employees, and received an average PPP loan of $129,504, 179% higher than this company's loan of $46,484.
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Footnotes & Information
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