PPP Loan Data — Scoops & Apples, Inc, Rochester Hills, MI
Scoops & Apples, Inc is a corporation located at 944 Corbin Road in Rochester Hills, Michigan that received a Coronavirus-related PPP loan from the SBA of $25,305.00 in May, 2020.
The company has reported itself as a 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:JPMorgan Chase Bank, National Association
Scoops & Apples, Inc in Rochester Hills, MI received a Paycheck Protection Loan of $25,305 through JPMorgan Chase Bank, National Association, 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 May, 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, Scoops & Apples, Inc's 2019 payroll expenses are estimated to be at least $121,464.
Based on their reported 10 jobs retained, this equals an estimated average yearly compensation of $12,146 per employee1
Reported PPP Proceed Usage:
On the PPP application, Scoops & Apples, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $18,170
- Utilities: $3,600
- Rent: $3,535
Business Information - Scoops & Apples, Inc in Rochester Hills, MI
Business Owner Demographics
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
PPP recipients in this industry report an average of 0 employees, 100% lower than Scoops & Apples, Inc's reported 10 employees, and received an average PPP loan of $0, 100% lower than this company's loan of $25,305.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!