PPP Loan Data — Shubway Group Inc, West Palm Beach, FL
Shubway Group Inc is a corporation located at 1334 N Military Trl in West Palm Beach, Florida that received a Coronavirus-related PPP loan from the SBA of $46,262.00 in January, 2021.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:JPMorgan Chase Bank, National Association
Shubway Group Inc in West Palm Beach, FL received a Paycheck Protection Loan of $46,262 through JPMorgan Chase Bank, National Association, which was approved in January, 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, Shubway Group Inc's 2019 payroll expenses are estimated to be at least $222,058.
Based on their reported 10 jobs retained, this equals an estimated average yearly compensation of $22,206 per employee1
Reported PPP Proceed Usage:
On the PPP application, Shubway Group Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,260
- Utilities: $1
Business Information - Shubway Group Inc in West Palm Beach, FL
1334 N Military Trl
West Palm Beach, FL 33409
NAICS code 448210
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near West Palm Beach
In the West Palm Beach area, 4 businesses in the "Shoe Stores" industry received a PPP loan. These local businesses reported an average of 7 employees (compared to this company's 10) and received an average PPP loan of $30,175 (compared to this company's $46,262).
Similar Nearby Businesses Who Received PPP Funding:
Venezia Pizza And Restaurant Inc
North Palm Beach, FL
West Palm Beach, FL
Coonerty's Sole Mates Inc
West Palm Beach, FL
Industry PPP Comparison Statistics
Nationwide, 7,952 businesses in the "Shoe Stores" industry received a total of $380.28M 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, 40% lower than Shubway Group Inc's reported 10 employees, and received an average PPP loan of $47,822, 3% higher than this company's loan of $46,262.
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Footnotes & Information
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