PPP Loan Data — Radha Krishna Corporation, Mountain City, TN
Radha Krishna Corporation is a corporation located at 5299 Hwy 64w in Mountain City, Tennessee that received a Coronavirus-related PPP loan from the SBA of $24,900.00 in June, 2020.
The company has reported itself as an Asian female owned business, and employed at least five people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Radha Krishna Corporation in Mountain City, TN received a Paycheck Protection Loan of $24,900 through Ameris Bank, which was approved in June, 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, Radha Krishna Corporation's 2019 payroll expenses are estimated to be at least $119,520.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $23,904 per employee1
Reported PPP Proceed Usage:
On the PPP application, Radha Krishna Corporation reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $19,920
- Utilities: $4,980
Business Information - Radha Krishna Corporation in Mountain City, TN
5299 Hwy 64w
Mountain City, TN 37683
NAICS code 445120
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Mountain City
In the Mountain City area, 2 businesses in the "Convenience Stores" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 5) and received an average PPP loan of $20,400 (compared to this company's $24,900).
Similar Nearby Businesses Who Received PPP Funding:
The Hoppy Stop LLC
Mountain City, TN
Industry PPP Comparison Statistics
Nationwide, 30,055 businesses in the "Convenience Stores" industry received a total of $856.22M 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 6 employees, 20% higher than Radha Krishna Corporation's reported 5 employees, and received an average PPP loan of $28,488, 14% higher than this company's loan of $24,900.
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Footnotes & Information
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