PPP Loan Data — Shuvashree Corporation, Gaithersburg, MD
Entity: Subchapter S Corporation
Location: Gaithersburg, MDTweet This • Search All PPP Data
Shuvashree Corporation is a subchapter s corporation located at 9621 Lost Knife Dr in Gaithersburg, Maryland that received a Coronavirus-related PPP loan from the SBA of $24,954.00 in June, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Celtic Bank Corporation
Shuvashree Corporation in Gaithersburg, MD received a Paycheck Protection Loan of $24,954 through Celtic Bank Corporation, which was approved in June, 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, Shuvashree Corporation's 2019 payroll expenses are estimated to be at least $119,779.
Based on their reported 7 jobs retained, this equals an estimated average yearly compensation of $17,111 per employee1
Reported PPP Proceed Usage:
On the PPP application, Shuvashree Corporation reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $18,716
- Utilities: $3,119
- Rent: $3,119
Business Information - Shuvashree Corporation in Gaithersburg, MD
9621 Lost Knife Dr
Gaithersburg, MD 20877
All Other Miscellaneous Store Retailers (except Tobacco Stores)
NAICS code 453998
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Gaithersburg
In the Gaithersburg area, 41 businesses in the "All Other Miscellaneous Store Retailers (except Tobacco Stores)" industry received a PPP loan. These local businesses reported an average of 18 employees (compared to this company's 7) and received an average PPP loan of $88,054 (compared to this company's $24,954).
Similar Nearby Businesses Who Received PPP Funding:
Mobile PC Tech LLC
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Magbio Genomics Inc
Rudden Real Estate, Inc
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Industry PPP Comparison Statistics
Nationwide, 152,436 businesses in the "All Other Miscellaneous Store Retailers (except Tobacco Stores)" industry received a total of $5.23B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 4 employees, 43% lower than Shuvashree Corporation's reported 7 employees, and received an average PPP loan of $34,329, 38% higher than this company's loan of $24,954.
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Footnotes & Information
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