PPP Loan Data — Tory S Welsh LLC, Romeo, MI
Tory S Welsh LLC is a limited liability company (LLC) located at 79720 Kidder Road Suite 2 in Romeo, Michigan that received a Coronavirus-related PPP loan from the SBA of $25,105.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Square Capital, LLC
Tory S Welsh LLC in Romeo, MI received a Paycheck Protection Loan of $25,105 through Square Capital, LLC, 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, Tory S Welsh LLC's 2019 payroll expenses are estimated to be at least $120,504.
Based on their reported 9 jobs retained, this equals an estimated average yearly compensation of $13,389 per employee1
Reported PPP Proceed Usage:
On the PPP application, Tory S Welsh LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $18,828
- Mortgage Interest: $6,276
Business Information - Tory S Welsh LLC in Romeo, MI
79720 Kidder Road Suite 2
Romeo, MI 48065
All Other Health and Personal Care Stores
NAICS code 446199
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Romeo
In the Romeo area, 5 businesses in the "All Other Health and Personal Care Stores" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 9) and received an average PPP loan of $18,467 (compared to this company's $25,105).
Similar Nearby Businesses Who Received PPP Funding:
Lady Pink Boutique LLC
Healthy Bones And Fitness, LLC
Tory S Welsh LLC
Bruce Twp, MI
Sleep Source LLC
Industry PPP Comparison Statistics
Nationwide, 14,381 businesses in the "All Other Health and Personal Care Stores" industry received a total of $593.14M 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 5 employees, 44% lower than Tory S Welsh LLC's reported 9 employees, and received an average PPP loan of $41,245, 64% higher than this company's loan of $25,105.
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Footnotes & Information
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