PPP Loan Data — Subway Of Clyde, Inc, Clyde, NC
Subway Of Clyde, Inc is a corporation located at 177 Paragon Pky in Clyde, North Carolina that received a Coronavirus-related PPP loan from the SBA of $25,005.00 in April, 2020. This business is a Subway franchise.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:TD Bank, National Association
Subway Of Clyde, Inc in Clyde, NC received a Paycheck Protection Loan of $25,005 through TD Bank, National Association, which was approved in April, 2020.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
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, Subway Of Clyde, Inc's 2019 payroll expenses are estimated to be at least $120,024.
Based on their reported 8 jobs retained, this equals an estimated average yearly compensation of $15,003 per employee1
Reported PPP Proceed Usage:
On the PPP application, Subway Of Clyde, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,005
Business Information - Subway Of Clyde, Inc in Clyde, NC
177 Paragon Pky
Clyde, NC 28721
NAICS code 722513
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Clyde
In the Clyde area, 6 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 9 employees (compared to this company's 8) and received an average PPP loan of $36,568 (compared to this company's $25,005).
Similar Nearby Businesses Who Received PPP Funding:
Groberg Visions Inc
Openroad Coffee Roastery
Sandwich Makers, Inc
Blackwell H&S Enterprises Inc
AKR Foods Inc
Industry PPP Comparison Statistics
Nationwide, 137,629 businesses in the "Limited-Service Restaurants" industry received a total of $13.9B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 21 employees, 163% higher than Subway Of Clyde, Inc's reported 8 employees, and received an average PPP loan of $100,980, 304% higher than this company's loan of $25,005.
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Footnotes & Information
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