PPP Loan Data — Primo Coco LLC, Philadelphia, PA
Primo Coco LLC is a limited liability company (LLC) located at 128 S 11th St in Philadelphia, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $47,100.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:PNC Bank, National Association
Primo Coco LLC in Philadelphia, PA received a Paycheck Protection Loan of $47,100 through PNC Bank, National Association, 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 June, 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, Primo Coco LLC's 2019 payroll expenses are estimated to be at least $226,080.
Based on their reported 13 jobs retained, this equals an estimated average yearly compensation of $17,391 per employee1
Reported PPP Proceed Usage:
On the PPP application, Primo Coco LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $47,100
Business Information - Primo Coco LLC in Philadelphia, PA
128 S 11th St
Philadelphia, PA 19107
NAICS code 722513
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Philadelphia
In the Philadelphia area, 103 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 8 employees (compared to this company's 13) and received an average PPP loan of $47,964 (compared to this company's $47,100).
Similar Nearby Businesses Who Received PPP Funding:
RP Dough 9 Inc
Pastrami & Things II, Inc
Grocery 13 Inc
Crown Castings LLC
Bricco Pizza Romana
DTS Food LLC
HG Group Inc
Industry PPP Comparison Statistics
Nationwide, 137,629 businesses in the "Limited-Service Restaurants" industry received a total of $13.9B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 21 employees, 62% higher than Primo Coco LLC's reported 13 employees, and received an average PPP loan of $100,980, 114% higher than this company's loan of $47,100.
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Footnotes & Information
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