PPP Loan Data — Sunrise Petro Inc, Mansfield, IL
Sunrise Petro Inc is a subchapter s corporation located at 502 N Mckinley St in Mansfield, Illinois that received a Coronavirus-related PPP loan from the SBA of $24,800.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least six people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:First Mid Bank & Trust, National Association
Sunrise Petro Inc in Mansfield, IL received a Paycheck Protection Loan of $24,800 through First Mid Bank & Trust, National Association, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in March, 2021.
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, Sunrise Petro Inc's 2019 payroll expenses are estimated to be at least $119,040.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $19,840 per employee1
Reported PPP Proceed Usage:
On the PPP application, Sunrise Petro Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $18,600
- Utilities: $3,100
- Mortgage Interest: $3,100
Business Information - Sunrise Petro Inc in Mansfield, IL
502 N Mckinley St
Mansfield, IL 61854
Gasoline Stations with Convenience Stores
NAICS code 447110
Business Owner Demographics
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Mansfield
In the Mansfield area, 2 businesses in the "Gasoline Stations with Convenience Stores" industry received a PPP loan. These local businesses reported an average of 6 employees (compared to this company's 6) and received an average PPP loan of $22,400 (compared to this company's $24,800).
Similar Nearby Businesses Who Received PPP Funding:
MAA Krupa, Inc
Industry PPP Comparison Statistics
Nationwide, 45,026 businesses in the "Gasoline Stations with Convenience Stores" industry received a total of $2.06B 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 10 employees, 67% higher than Sunrise Petro Inc's reported 6 employees, and received an average PPP loan of $45,821, 85% higher than this company's loan of $24,800.
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Footnotes & Information
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