PPP Loan Data — Vesuvius, Incorporated, Lexington, VA
Vesuvius, Incorporated is a corporation located at 2516 N. Lee Hwy in Lexington, Virginia that received a Coronavirus-related PPP loan from the SBA of $2,872,500.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Atlantic Union Bank
Vesuvius, Incorporated in Lexington, VA received a Paycheck Protection Loan of $2.87M through Atlantic Union Bank, which was approved in April, 2020.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
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, Vesuvius, Incorporated's 2019 payroll expenses are estimated to be at least $13.79M.
Based on their reported 401 jobs retained, this equals an estimated average yearly compensation of $34,384 per employee1
Reported PPP Proceed Usage:
On the PPP application, Vesuvius, Incorporated reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,872,500
Business Information - Vesuvius, Incorporated in Lexington, VA
2516 N. Lee Hwy
Lexington, VA 24450
Gasoline Stations with Convenience Stores
NAICS code 447110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 44,952 businesses in the "Gasoline Stations with Convenience Stores" industry received a total of $2.06B 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 10 employees, 98% lower than Vesuvius, Incorporated's reported 401 employees, and received an average PPP loan of $45,838, 98% lower than this company's loan of $2.87M.
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Footnotes & Information
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