PPP Loan Data — Renee Morgan, Malvern, PA
Renee Morgan is a sole proprietorship located at 617 B. Swedesford Road in Malvern, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $46,687.00 in May, 2020.
The company has reported itself as a female owned business, and employed at least three people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Renee Morgan in Malvern, PA received a Paycheck Protection Loan of $46,687 through LinkBank, which was approved in May, 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 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, Renee Morgan's 2019 payroll expenses are estimated to be at least $224,098.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $74,699 per employee1
Reported PPP Proceed Usage:
On the PPP application, Renee Morgan reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,687
Business Information - Renee Morgan in Malvern, PA
617 B. Swedesford Road
Malvern, PA 19355
Other Individual and Family Services
NAICS code 624190
Business Owner Demographics
Gender: Female Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Malvern
In the Malvern area, 4 businesses in the "Other Individual and Family Services" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 3) and received an average PPP loan of $23,661 (compared to this company's $46,687).
Similar Nearby Businesses Who Received PPP Funding:
Wings For Success
Industry PPP Comparison Statistics
Nationwide, 25,118 businesses in the "Other Individual and Family Services" industry received a total of $2.96B 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 16 employees, 433% higher than Renee Morgan's reported 3 employees, and received an average PPP loan of $117,860, 152% higher than this company's loan of $46,687.
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Footnotes & Information
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