PPP Loan Data — Soul Provider, Inc, Westfield, IN
Soul Provider, Inc is a subchapter s corporation located at 17397 Oak Ridge Road in Westfield, Indiana that received a Coronavirus-related PPP loan from the SBA of $2,357,900.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 173 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:KeyBank National Association
Soul Provider, Inc in Westfield, IN received a Paycheck Protection Loan of $2.36M through KeyBank National Association, 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, Soul Provider, Inc's 2019 payroll expenses are estimated to be at least $11.32M.
Based on their reported 173 jobs retained, this equals an estimated average yearly compensation of $65,422 per employee1
Reported PPP Proceed Usage:
On the PPP application, Soul Provider, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,357,900
Business Information - Soul Provider, Inc in Westfield, IN
17397 Oak Ridge Road
Westfield, IN 46074
Offices of Other Holding Companies
NAICS code 551112
Business Owner Demographics
Gender: Male Owned
Veteran Status: Non-Veteran
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Westfield
In the Westfield area, 2 businesses in the "Offices of Other Holding Companies" industry received a PPP loan. These local businesses reported an average of 87 employees (compared to this company's 173) and received an average PPP loan of $1,185,384 (compared to this company's $2.36M).
Similar Nearby Businesses Who Received PPP Funding:
Industry PPP Comparison Statistics
Nationwide, 12,536 businesses in the "Offices of Other Holding Companies" industry received a total of $1.56B 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 13 employees, 92% lower than Soul Provider, Inc's reported 173 employees, and received an average PPP loan of $124,396, 95% lower than this company's loan of $2.36M.
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Footnotes & Information
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