PPP Loan Data — The Very Thing LTD, Burlington, NC
The Very Thing LTD is a corporation located at 2100 S Church St in Burlington, North Carolina that received a Coronavirus-related PPP loan from the SBA of $25,100.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:American National Bank and Trust Company
The Very Thing LTD in Burlington, NC received a Paycheck Protection Loan of $25,100 through American National Bank and Trust Company, 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 April, 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 Very Thing LTD's 2019 payroll expenses are estimated to be at least $120,480.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $24,096 per employee1
Reported PPP Proceed Usage:
On the PPP application, The Very Thing LTD reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $19,955
- Utilities: $5,145
Business Information - The Very Thing LTD in Burlington, NC
2100 S Church St
Burlington, NC 27215
Interior Design Services
NAICS code 541410
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Burlington
In the Burlington area, 5 businesses in the "Interior Design Services" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 5) and received an average PPP loan of $23,702 (compared to this company's $25,100).
Similar Nearby Businesses Who Received PPP Funding:
D Two LLC
Cynthia Huffines And Associates Interior Designs LLC
The Design Gallery Inc
Industry PPP Comparison Statistics
Nationwide, 29,847 businesses in the "Interior Design Services" industry received a total of $1.03B 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 3 employees, 40% lower than The Very Thing LTD's reported 5 employees, and received an average PPP loan of $34,371, 37% higher than this company's loan of $25,100.
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Footnotes & Information
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