PPP Loan Data — United Thrift Management Inc, Birmingham, AL
United Thrift Management Inc is a subchapter s corporation located at 4880 Valleydale Road in Birmingham, Alabama that received a Coronavirus-related PPP loan from the SBA of $1,515,000.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
United Thrift Management Inc in Birmingham, AL received a Paycheck Protection Loan of $1.52M through Renasant Bank, which was approved in April, 2020.
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, United Thrift Management Inc's 2019 payroll expenses are estimated to be at least $7.27M.
Based on their reported 417 jobs retained, this equals an estimated average yearly compensation of $17,439 per employee1
Reported PPP Proceed Usage:
On the PPP application, United Thrift Management Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,515,000
Business Information - United Thrift Management Inc in Birmingham, AL
4880 Valleydale Road
Birmingham, AL 35242
Used Merchandise Stores
NAICS code 453310
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Birmingham
In the Birmingham area, 8 businesses in the "Used Merchandise Stores" industry received a PPP loan. These local businesses reported an average of 126 employees (compared to this company's 417) and received an average PPP loan of $712,378 (compared to this company's $1.52M).
Similar Nearby Businesses Who Received PPP Funding:
The Mercantile By Miller, LLC
Robert E Barr
Brook Valley Salvage Inc
Peddling Post, LLC
Sager & Sager
Sager & Sager DBA Th
Brook Valley Thrift Stores Inc
Industry PPP Comparison Statistics
Nationwide, 12,348 businesses in the "Used Merchandise Stores" industry received a total of $577.39M 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 8 employees, 98% lower than United Thrift Management Inc's reported 417 employees, and received an average PPP loan of $46,760, 97% lower than this company's loan of $1.52M.
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Footnotes & Information
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