PPP Loan Data — Towamencin Beverage Co Inc, Kulpsville, PA
Towamencin Beverage Co Inc is a subchapter s corporation located at 1555 Sumneytown Pike in Kulpsville, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $25,088.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Wilmington Savings Fund Society, FSB
Towamencin Beverage Co Inc in Kulpsville, PA received a Paycheck Protection Loan of $25,088 through Wilmington Savings Fund Society, FSB, 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 January, 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, Towamencin Beverage Co Inc's 2019 payroll expenses are estimated to be at least $120,422.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $24,084 per employee1
Reported PPP Proceed Usage:
On the PPP application, Towamencin Beverage Co Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,088
Business Information - Towamencin Beverage Co Inc in Kulpsville, PA
1555 Sumneytown Pike
Kulpsville, PA 19443
Beer, Wine, and Liquor Stores
NAICS code 445310
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, 19,110 businesses in the "Beer, Wine, and Liquor Stores" industry received a total of $604.2M 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 6 employees, 20% higher than Towamencin Beverage Co Inc's reported 5 employees, and received an average PPP loan of $31,617, 26% higher than this company's loan of $25,088.
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Footnotes & Information
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