PPP Loan Data — Savitamagan, LLC, Pilot Mountain, NC
Savitamagan, LLC is a limited liability company (LLC) located at 711 South Key St in Pilot Mountain, North Carolina that received a Coronavirus-related PPP loan from the SBA of $25,100.00 in April, 2020.
The company has reported itself as an Asian male owned business, and employed at least ten people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Surrey Bank & Trust
Savitamagan, LLC in Pilot Mountain, NC received a Paycheck Protection Loan of $25,100 through Surrey Bank & Trust, 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 February, 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, Savitamagan, LLC's 2019 payroll expenses are estimated to be at least $120,480.
Based on their reported 10 jobs retained, this equals an estimated average yearly compensation of $12,048 per employee1
Reported PPP Proceed Usage:
On the PPP application, Savitamagan, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,100
Business Information - Savitamagan, LLC in Pilot Mountain, NC
711 South Key St
Pilot Mountain, NC 27041
NAICS code 999990
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Pilot Mountain
In the Pilot Mountain area, 5 businesses in the "Unclassified Establishments" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 10) and received an average PPP loan of $21,651 (compared to this company's $25,100).
Similar Nearby Businesses Who Received PPP Funding:
Pyrtle Ventures, LLC
Pilot Mountain, NC
Rivers Edge NC, LLC
Pilot Mountain, NC
Industry PPP Comparison Statistics
Nationwide, 85,647 businesses in the "Unclassified Establishments" industry received a total of $3.67B 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, the same amount reported by Savitamagan, LLC and received an average PPP loan of $42,878, 71% higher than this company's loan of $25,100.
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Footnotes & Information
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