PPP Loan Data — Serucell Corporation, Huntington, WV
Serucell Corporation is a corporation located at 803 10th St in Huntington, West Virginia that received a Coronavirus-related PPP loan from the SBA of $25,400.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Citizens Deposit Bank and Trust
Serucell Corporation in Huntington, WV received a Paycheck Protection Loan of $25,400 through Citizens Deposit Bank and Trust, 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, Serucell Corporation's 2019 payroll expenses are estimated to be at least $121,920.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,640 per employee1
Reported PPP Proceed Usage:
On the PPP application, Serucell Corporation reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $20,380
- Utilities: $2,510
- Mortgage Interest: $2,510
Business Information - Serucell Corporation in Huntington, WV
803 10th St
Huntington, WV 25701
Toilet Preparation Manufacturing
NAICS code 325620
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, 1,286 businesses in the "Toilet Preparation Manufacturing" industry received a total of $309.43M 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 22 employees, 633% higher than Serucell Corporation's reported 3 employees, and received an average PPP loan of $240,617, 847% higher than this company's loan of $25,400.
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Footnotes & Information
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