PPP Loan Data — Spice Logistic Inc, Indianapolis, IN
Spice Logistic Inc
Location: Indianapolis, INTweet This • Search All PPP Data
Spice Logistic Inc is a corporation located at 4636 Creighton Lane in Indianapolis, Indiana that received a Coronavirus-related PPP loan from the SBA of $24,900.00 in April, 2020.
The company has reported itself as an Asian female owned business, and employed at least three people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Indiana Members CU
Spice Logistic Inc in Indianapolis, IN received a Paycheck Protection Loan of $24,900 through Indiana Members CU, 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, Spice Logistic Inc's 2019 payroll expenses are estimated to be at least $119,520.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $39,840 per employee1
Reported PPP Proceed Usage:
On the PPP application, Spice Logistic Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,900
Business Information - Spice Logistic Inc in Indianapolis, IN
4636 Creighton Lane
Indianapolis, IN 46237
Process, Physical Distribution, and Logistics Consulting Services
NAICS code 541614
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Non-Veteran
LMI Zone: Y
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 10,517 businesses in the "Process, Physical Distribution, and Logistics Consulting Services" industry received a total of $920.57M 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 8 employees, 167% higher than Spice Logistic Inc's reported 3 employees, and received an average PPP loan of $87,532, 252% higher than this company's loan of $24,900.
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