PPP Loan Data — Rt66 Old School Brewer, Inc, Wilmington, IL
Rt66 Old School Brewer, Inc is a corporation located at 110 Bridge St in Wilmington, Illinois that received a Coronavirus-related PPP loan from the SBA of $25,100.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bank of Pontiac
Rt66 Old School Brewer, Inc in Wilmington, IL received a Paycheck Protection Loan of $25,100 through Bank of Pontiac, 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 December, 2020.
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, Rt66 Old School Brewer, Inc's 2019 payroll expenses are estimated to be at least $120,480.
Based on their reported 12 jobs retained, this equals an estimated average yearly compensation of $10,040 per employee1
Reported PPP Proceed Usage:
On the PPP application, Rt66 Old School Brewer, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $21,504
- Utilities: $396
- Mortgage Interest: $1,200
- Rent: $2,000
Business Information - Rt66 Old School Brewer, Inc in Wilmington, IL
110 Bridge St
Wilmington, IL 60481
Drinking Places (Alcoholic Beverages)
NAICS code 722410
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Wilmington
In the Wilmington area, 7 businesses in the "Drinking Places (Alcoholic Beverages)" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 12) and received an average PPP loan of $12,015 (compared to this company's $25,100).
Similar Nearby Businesses Who Received PPP Funding:
Willow Springs, IL
Willow Springs Friendly Tap Inc
Willow Springs, IL
Route 66 Bar & Grill
Industry PPP Comparison Statistics
Nationwide, 46,930 businesses in the "Drinking Places (Alcoholic Beverages)" industry received a total of $2.81B 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 12 employees, the same amount reported by Rt66 Old School Brewer, Inc and received an average PPP loan of $59,863, 138% higher than this company's loan of $25,100.
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Footnotes & Information
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