PPP Loan Data — Sean Welch, Norfolk, VA
Sean Welch is a sole proprietorship located in Norfolk, Virginia that received a Coronavirus-related PPP loan from the SBA of $10,593.00 in March, 2021.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Truist Bank d/b/a Branch Banking & Trust Co
Sean Welch in Norfolk, VA received a Paycheck Protection Loan of $10,593 through Truist Bank d/b/a Branch Banking & Trust Co, which was approved in March, 2021.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA. The loan's status was last updated by the SBA in November, -0001.
Reported PPP Proceed Usage:
On the PPP application, Sean Welch reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $10,592
Business Information - Sean Welch in Norfolk, VA
* Full address is redacted to protect the privacy of individuals.
NAICS code 561730
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Norfolk
In the Norfolk area, 15 businesses in the "Landscaping Services" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 1) and received an average PPP loan of $25,349 (compared to this company's $10,593).
Similar Nearby Businesses Who Received PPP Funding:
Norfolk Landscaping LLC
Wright Stuff Lawn Service LLC
Garden By Oz Inc
The Barringer Virginia Corp
Curtis D Johnson
Industry PPP Comparison Statistics
Nationwide, 131,953 businesses in the "Landscaping Services" industry received a total of $5.9B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 6 employees, 500% higher than Sean Welch's reported 1 employees, and received an average PPP loan of $44,711, 322% higher than this company's loan of $10,593.
FederalPay's PPP Information Policy
Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.
All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
Footnotes & Information
1. Estimations for informational purposes only. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.
2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.
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