PPP Loan Data — Tri-Cone Corporation, Conway, AR
Tri-Cone Corporation is a corporation located at 2650 Donaghey Ave in Conway, Arkansas that received a Coronavirus-related PPP loan from the SBA of $46,760.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least eighteen people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Tri-Cone Corporation in Conway, AR received a Paycheck Protection Loan of $46,760 through BancorpSouth 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 February, 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, Tri-Cone Corporation's 2019 payroll expenses are estimated to be at least $224,448.
Based on their reported 18 jobs retained, this equals an estimated average yearly compensation of $12,469 per employee1
Reported PPP Proceed Usage:
On the PPP application, Tri-Cone Corporation reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,760
Business Information - Tri-Cone Corporation in Conway, AR
2650 Donaghey Ave
Conway, AR 72032
NAICS code 722513
Business Owner Demographics
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Conway
In the Conway area, 16 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 19 employees (compared to this company's 18) and received an average PPP loan of $85,132 (compared to this company's $46,760).
Similar Nearby Businesses Who Received PPP Funding:
Taqueria Gonzalez, LLC
Cross Creek Sandwich Shop, LLC
C&S Deli Of Conway LLC
Pasta Grill, Inc
Sonic Drive In Oak Street LLC
Sonic Drive In Hwy 64 West LLC
Industry PPP Comparison Statistics
Nationwide, 137,629 businesses in the "Limited-Service Restaurants" industry received a total of $13.9B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 21 employees, 17% higher than Tri-Cone Corporation's reported 18 employees, and received an average PPP loan of $100,980, 116% higher than this company's loan of $46,760.
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Footnotes & Information
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