PPP Loan Data — Spice Merchant Inc, Asheville, NC
Spice Merchant Inc is a subchapter s corporation located at 46 Haywood Street Ste 101 in Asheville, North Carolina that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:TD Bank, National Association
Spice Merchant Inc in Asheville, NC received a Paycheck Protection Loan of $25,000 through TD Bank, 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, Spice Merchant Inc's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Spice Merchant Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Spice Merchant Inc in Asheville, NC
46 Haywood Street Ste 101
Asheville, NC 28801
All Other Specialty Food Stores
NAICS code 445299
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Asheville
In the Asheville area, 4 businesses in the "All Other Specialty Food Stores" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 4) and received an average PPP loan of $21,937 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Haresh Hitesh Inc
Trade & Lore Asheville, LLC
Industry PPP Comparison Statistics
Nationwide, 13,977 businesses in the "All Other Specialty Food Stores" industry received a total of $690.79M 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 11 employees, 175% higher than Spice Merchant Inc's reported 4 employees, and received an average PPP loan of $49,423, 98% higher than this company's loan of $25,000.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!