PPP Loan Data — Timothy Smith-Sba Small 7A Term, North Bennington, VT
Timothy Smith-Sba Small 7A Term is a sole proprietorship located at 1 Main Street in North Bennington, Vermont that received a Coronavirus-related PPP loan from the SBA of $24,892.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:TD Bank, National Association
Timothy Smith-Sba Small 7A Term in North Bennington, VT received a Paycheck Protection Loan of $24,892 through TD Bank, National Association, 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, Timothy Smith-Sba Small 7A Term's 2019 payroll expenses are estimated to be at least $119,482.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $59,741 per employee1
Reported PPP Proceed Usage:
On the PPP application, Timothy Smith-Sba Small 7A Term reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,892
Business Information - Timothy Smith-Sba Small 7A Term in North Bennington, VT
1 Main Street
North Bennington, VT 5257
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
PPP recipients in this industry report an average of 0 employees, 100% lower than Timothy Smith-Sba Small 7A Term's reported 2 employees, and received an average PPP loan of $0, 100% lower than this company's loan of $24,892.
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Footnotes & Information
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