PPP Loan Data — Rick Inspired LLC, Greensboro, NC
Rick Inspired LLC is a limited liability company (LLC) located at 2403 Battleground Ave Suite 9 in Greensboro, North Carolina that received a Coronavirus-related PPP loan from the SBA of $25,400.00 in April, 2020. This business is a Smoothie King franchise.
The company has reported itself as a White female owned business, and employed at least two people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Rick Inspired LLC in Greensboro, NC received a Paycheck Protection Loan of $25,400 through Citizens 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, Rick Inspired LLC's 2019 payroll expenses are estimated to be at least $121,920.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,960 per employee1
Reported PPP Proceed Usage:
On the PPP application, Rick Inspired LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,400
Business Information - Rick Inspired LLC in Greensboro, NC
2403 Battleground Ave Suite 9
Greensboro, NC 27408
Snack and Nonalcoholic Beverage Bars
NAICS code 722515
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: Urban
Similar Companies near Greensboro
In the Greensboro area, 10 businesses in the "Snack and Nonalcoholic Beverage Bars" industry received a PPP loan. These local businesses reported an average of 8 employees (compared to this company's 2) and received an average PPP loan of $46,508 (compared to this company's $25,400).
Similar Nearby Businesses Who Received PPP Funding:
A&E Enterprises Ventures LLC
RLT Enterprises LLC
A Special Blend Inc
Industry PPP Comparison Statistics
Nationwide, 27,681 businesses in the "Snack and Nonalcoholic Beverage Bars" industry received a total of $1.44B 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 11 employees, 450% higher than Rick Inspired LLC's reported 2 employees, and received an average PPP loan of $52,130, 105% higher than this company's loan of $25,400.
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Footnotes & Information
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