PPP Loan Data — Shbng Inc, Concord, NC
Shbng Inc is a corporation located at 360 Exchange St Nw in Concord, North Carolina that received a Coronavirus-related PPP loan from the SBA of $45,737.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Celtic Bank Corporation
Shbng Inc in Concord, NC received a Paycheck Protection Loan of $45,737 through Celtic Bank Corporation, 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, Shbng Inc's 2019 payroll expenses are estimated to be at least $219,538.
Based on their reported 12 jobs retained, this equals an estimated average yearly compensation of $18,295 per employee1
Reported PPP Proceed Usage:
On the PPP application, Shbng Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $34,303
- Utilities: $5,717
- Rent: $5,717
Business Information - Shbng Inc in Concord, NC
360 Exchange St Nw
Concord, NC 28027
All Other Traveler Accommodation
NAICS code 721199
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Concord
In the Concord area, 6 businesses in the "All Other Traveler Accommodation" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 12) and received an average PPP loan of $20,581 (compared to this company's $45,737).
Similar Nearby Businesses Who Received PPP Funding:
Dumpling Girls LLC
I Cater To You, LLC
Industry PPP Comparison Statistics
Nationwide, 30,922 businesses in the "All Other Traveler Accommodation" industry received a total of $1.29B 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 6 employees, 50% lower than Shbng Inc's reported 12 employees, and received an average PPP loan of $41,836, 9% lower than this company's loan of $45,737.
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Footnotes & Information
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