PPP Loan Data — Sweet Treats Corp, Washington, DC
Sweet Treats Corp is a subchapter s corporation located at 1201 Half Street Se #133 in Washington, District of Columbia that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
The company has reported itself as a Black or african american male owned business, and employed at least one person during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Manufacturers and Traders Trust Company
Sweet Treats Corp in Washington, DC received a Paycheck Protection Loan of $25,000 through Manufacturers and Traders Trust Company, which was approved in April, 2020.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 1. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
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, Sweet Treats Corp's 2019 payroll expenses are estimated to be at least $120,000 (not accounting for salary amounts > $100k).
Because the 1 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, Sweet Treats Corp reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Sweet Treats Corp in Washington, DC
1201 Half Street Se #133
Washington, DC 20003
NAICS code 722513
Business Owner Demographics
Race: Black or African American
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Washington
In the Washington area, 118 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 16 employees (compared to this company's 1) and received an average PPP loan of $116,823 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
River Rock LLC
Hoque Traders Inc
Haifa Foods Inc
Manny And Olgas Pizza H St NE Inc
Cafe Circuit LLC
Think Food Group LLC
SOL Mexican Grill LLC
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, 2000% higher than Sweet Treats Corp's reported 1 employees, and received an average PPP loan of $100,980, 304% higher than this company's loan of $25,000.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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