PPP Loan Data — Veera Inc, Berlin, MD
Veera Inc is a subchapter s corporation located at 10140 Old Ocean City Blvd. in Berlin, Maryland that received a Coronavirus-related PPP loan from the SBA of $25,105.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Calvin B. Taylor Banking Company
Veera Inc in Berlin, MD received a Paycheck Protection Loan of $25,105 through Calvin B. Taylor Banking Company, 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, Veera Inc's 2019 payroll expenses are estimated to be at least $120,504.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $24,101 per employee1
Reported PPP Proceed Usage:
On the PPP application, Veera Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,105
Business Information - Veera Inc in Berlin, MD
10140 Old Ocean City Blvd.
Berlin, MD 21811
NAICS code 445120
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Berlin
In the Berlin area, 3 businesses in the "Convenience Stores" industry received a PPP loan. These local businesses reported an average of 10 employees (compared to this company's 5) and received an average PPP loan of $26,784 (compared to this company's $25,105).
Similar Nearby Businesses Who Received PPP Funding:
The D's Of Assateague LLC
Industry PPP Comparison Statistics
Nationwide, 30,055 businesses in the "Convenience Stores" industry received a total of $856.22M 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 Veera Inc's reported 5 employees, and received an average PPP loan of $28,488, 13% higher than this company's loan of $25,105.
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