PPP Loan Data — Second Time Around, Augusta, GA
Second Time Around is a sole proprietorship located at 3690 Washington Rd in Augusta, Georgia that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Queensborough National Bank and Trust Company
Second Time Around in Augusta, GA received a Paycheck Protection Loan of $25,000 through Queensborough National Bank and Trust Company, which was approved in April, 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, Second Time Around's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 11 jobs retained, this equals an estimated average yearly compensation of $10,909 per employee1
Reported PPP Proceed Usage:
On the PPP application, Second Time Around reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $20,000
- Utilities: $2,500
- Mortgage Interest: $2,500
Business Information - Second Time Around in Augusta, GA
3690 Washington Rd
Augusta, GA 30907
Used Merchandise Stores
NAICS code 453310
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Augusta
In the Augusta area, 5 businesses in the "Used Merchandise Stores" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 11) and received an average PPP loan of $12,585 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Georgia - Carolina Drop &Shop - Consignment
Encore Boutique And Consignments LLC
Industry PPP Comparison Statistics
Nationwide, 12,348 businesses in the "Used Merchandise Stores" industry received a total of $577.39M 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 8 employees, 27% lower than Second Time Around's reported 11 employees, and received an average PPP loan of $46,760, 87% higher than this company's loan of $25,000.
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Footnotes & Information
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