PPP Loan Data — TMR Corporation, Pennington Gap, VA
Location: Pennington Gap, VATweet This • Search All PPP Data
TMR Corporation is a corporation located at 41815 East Morgan Avenue in Pennington Gap, Virginia that received a Coronavirus-related PPP loan from the SBA of $47,000.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Powell Valley National Bank
TMR Corporation in Pennington Gap, VA received a Paycheck Protection Loan of $47,000 through Powell Valley 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 March, 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, TMR Corporation's 2019 payroll expenses are estimated to be at least $225,600.
Based on their reported 14 jobs retained, this equals an estimated average yearly compensation of $16,114 per employee1
Reported PPP Proceed Usage:
On the PPP application, TMR Corporation reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $47,000
Business Information - TMR Corporation in Pennington Gap, VA
41815 East Morgan Avenue
Pennington Gap, VA 24277
Supermarkets and Other Grocery (except Convenience) Stores
NAICS code 445110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Rural
Similar Companies near Pennington Gap
In the Pennington Gap area, 2 businesses in the "Supermarkets and Other Grocery (except Convenience) Stores" industry received a PPP loan. These local businesses reported an average of 8 employees (compared to this company's 14) and received an average PPP loan of $25,050 (compared to this company's $47,000).
Similar Nearby Businesses Who Received PPP Funding:
Pennington Gap, VA
Industry PPP Comparison Statistics
Nationwide, 25,599 businesses in the "Supermarkets and Other Grocery (except Convenience) Stores" industry received a total of $2.27B 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 18 employees, 29% higher than TMR Corporation's reported 14 employees, and received an average PPP loan of $88,740, 89% higher than this company's loan of $47,000.
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Footnotes & Information
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