PPP Loan Data — Second To None, Inc, Hinckley, OH
Second To None, Inc is a subchapter s corporation located at 1593 Ridgemont Trail in Hinckley, Ohio that received a Coronavirus-related PPP loan from the SBA of $46,200.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Citizens Bank, National Association
Second To None, Inc in Hinckley, OH received a Paycheck Protection Loan of $46,200 through Citizens Bank, National Association, 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 June, 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, Second To None, Inc's 2019 payroll expenses are estimated to be at least $221,760.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $36,960 per employee1
Reported PPP Proceed Usage:
On the PPP application, Second To None, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,200
Business Information - Second To None, Inc in Hinckley, OH
1593 Ridgemont Trail
Hinckley, OH 44233
NAICS code 238160
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 28,905 businesses in the "Roofing Contractors" industry received a total of $2.88B 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 9 employees, 50% higher than Second To None, Inc's reported 6 employees, and received an average PPP loan of $99,538, 115% higher than this company's loan of $46,200.
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Footnotes & Information
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