PPP Loan Data — Raffy's Candy Store LLC, New Lenox, IL
Raffy's Candy Store LLC is a limited liability company (LLC) located at 2571 E Lincoln Hwy Ste 1 in New Lenox, Illinois that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in January, 2021.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Town Center Bank
Raffy's Candy Store LLC in New Lenox, IL received a Paycheck Protection Loan of $25,000 through Town Center 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, Raffy's Candy Store LLC's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 23 jobs retained, this equals an estimated average yearly compensation of $5,217 per employee1
Reported PPP Proceed Usage:
On the PPP application, Raffy's Candy Store LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,997
- Utilities: $1
Business Information - Raffy's Candy Store LLC in New Lenox, IL
2571 E Lincoln Hwy Ste 1
New Lenox, IL 60451
Confectionery and Nut Stores
NAICS code 445292
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 2,058 businesses in the "Confectionery and Nut Stores" industry received a total of $95.66M 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 10 employees, 57% lower than Raffy's Candy Store LLC's reported 23 employees, and received an average PPP loan of $46,483, 86% higher than this company's loan of $25,000.
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Footnotes & Information
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