PPP Loan Data — The Sailors Tailor Inc, Spring Valley, OH
The Sailors Tailor Inc
Entity: Subchapter S Corporation
Location: Spring Valley, OHTweet This • Search All PPP Data
The Sailors Tailor Inc is a subchapter s corporation located at 1480 W Spring Valley-paintersville Rd in Spring Valley, Ohio that received a Coronavirus-related PPP loan from the SBA of $46,743.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Wright Patt CU Inc
The Sailors Tailor Inc in Spring Valley, OH received a Paycheck Protection Loan of $46,743 through Wright Patt CU Inc, which was approved in May, 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 June, 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, The Sailors Tailor Inc's 2019 payroll expenses are estimated to be at least $224,366.
Based on their reported 7 jobs retained, this equals an estimated average yearly compensation of $32,052 per employee1
Reported PPP Proceed Usage:
On the PPP application, The Sailors Tailor Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,743
Business Information - The Sailors Tailor Inc in Spring Valley, OH
1480 W Spring Valley-paintersville Rd
Spring Valley, OH 45370
All Other Miscellaneous Store Retailers (except Tobacco Stores)
NAICS code 453998
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 152,436 businesses in the "All Other Miscellaneous Store Retailers (except Tobacco Stores)" industry received a total of $5.23B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 4 employees, 43% lower than The Sailors Tailor Inc's reported 7 employees, and received an average PPP loan of $34,329, 27% lower than this company's loan of $46,743.
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Footnotes & Information
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