PPP Loan Data — Sunset Terrace Homes, Inc, Henderson, KY
Sunset Terrace Homes, Inc is a subchapter s corporation located at 2751 Us Hwy 41 N in Henderson, Kentucky that received a Coronavirus-related PPP loan from the SBA of $46,000.00 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:Old National Bank
Sunset Terrace Homes, Inc in Henderson, KY received a Paycheck Protection Loan of $46,000 through Old National Bank, 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 November, 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, Sunset Terrace Homes, Inc's 2019 payroll expenses are estimated to be at least $220,800.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $36,800 per employee1
Reported PPP Proceed Usage:
On the PPP application, Sunset Terrace Homes, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,000
Business Information - Sunset Terrace Homes, Inc in Henderson, KY
2751 Us Hwy 41 N
Henderson, KY 42420
Manufactured (Mobile) Home Dealers
NAICS code 453930
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 1,368 businesses in the "Manufactured (Mobile) Home Dealers" industry received a total of $93.46M 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, 33% higher than Sunset Terrace Homes, Inc's reported 6 employees, and received an average PPP loan of $68,316, 49% higher than this company's loan of $46,000.
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Footnotes & Information
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