PPP Loan Data — Vernal's Service Center, LLC, Darien, CT
Vernal's Service Center, LLC is a limited liability company (LLC) located at 498 Post Rd in Darien, Connecticut that received a Coronavirus-related PPP loan from the SBA of $46,800.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Vernal's Service Center, LLC in Darien, CT received a Paycheck Protection Loan of $46,800 through DR 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, Vernal's Service Center, LLC's 2019 payroll expenses are estimated to be at least $224,640.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $44,928 per employee1
Reported PPP Proceed Usage:
On the PPP application, Vernal's Service Center, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $37,516
- Utilities: $9,284
Business Information - Vernal's Service Center, LLC in Darien, CT
498 Post Rd
Darien, CT 6820
Other Gasoline Stations
NAICS code 447190
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Darien
In the Darien area, 2 businesses in the "Other Gasoline Stations" industry received a PPP loan. These local businesses reported an average of 6 employees (compared to this company's 5) and received an average PPP loan of $45,323 (compared to this company's $46,800).
Similar Nearby Businesses Who Received PPP Funding:
Industry PPP Comparison Statistics
Nationwide, 6,490 businesses in the "Other Gasoline Stations" industry received a total of $343.18M 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 9 employees, 80% higher than Vernal's Service Center, LLC's reported 5 employees, and received an average PPP loan of $52,878, 13% higher than this company's loan of $46,800.
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Footnotes & Information
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