PPP Loan Data — VAC Shack Inc, Alexandria, LA
VAC Shack Inc is a corporation located at 3322 Jackson St in Alexandria, Louisiana that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:The Evangeline Bank & Trust Company
VAC Shack Inc in Alexandria, LA received a Paycheck Protection Loan of $25,000 through The Evangeline Bank & Trust Company, 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, VAC Shack Inc's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $24,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, VAC Shack Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - VAC Shack Inc in Alexandria, LA
3322 Jackson St
Alexandria, LA 71301
Parking Lots and Garages
NAICS code 812930
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 3,661 businesses in the "Parking Lots and Garages" industry received a total of $470.09M 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 21 employees, 320% higher than VAC Shack Inc's reported 5 employees, and received an average PPP loan of $128,404, 414% higher than this company's loan of $25,000.
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Footnotes & Information
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