PPP Loan Data — Quick Stop Drive In, Joliet, MT
Quick Stop Drive In is a sole proprietorship located at 4297 Hwy 310 in Joliet, Montana that received a Coronavirus-related PPP loan from the SBA of $25,305.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least thirteen people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:First Interstate Bank
Quick Stop Drive In in Joliet, MT received a Paycheck Protection Loan of $25,305 through First Interstate 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 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, Quick Stop Drive In's 2019 payroll expenses are estimated to be at least $121,464.
Based on their reported 13 jobs retained, this equals an estimated average yearly compensation of $9,343 per employee1
Reported PPP Proceed Usage:
On the PPP application, Quick Stop Drive In reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,305
Business Information - Quick Stop Drive In in Joliet, MT
4297 Hwy 310
Joliet, MT 59041
NAICS code 722513
Business Owner Demographics
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
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 Quick Stop Drive In's reported 13 employees, and received an average PPP loan of $100,980, 299% higher than this company's loan of $25,305.
FederalPay's PPP Information Policy
Footnotes & Information
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