PPP Loan Data — Veterans Of Foreign Wars Of The 1644, Norfolk, NE
Veterans Of Foreign Wars Of The 1644 is a non-profit organization located at 316 W Braasch Ave in Norfolk, Nebraska that received a Coronavirus-related PPP loan from the SBA of $24,997.00 in January, 2021.
PPP Loan Information
Loan Status:Ongoing Loan
Veterans Of Foreign Wars Of The 1644 in Norfolk, NE received a Paycheck Protection Loan of $24,997 through BankFirst, which was approved in January, 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, Veterans Of Foreign Wars Of The 1644's 2019 payroll expenses are estimated to be at least $119,986.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $29,997 per employee1
Reported PPP Proceed Usage:
On the PPP application, Veterans Of Foreign Wars Of The 1644 reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,994
- Utilities: $1
Business Information - Veterans Of Foreign Wars Of The 1644 in Norfolk, NE
316 W Braasch Ave
Norfolk, NE 68701
NAICS code 722511
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Norfolk
In the Norfolk area, 45 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 18 employees (compared to this company's 4) and received an average PPP loan of $63,287 (compared to this company's $24,997).
Similar Nearby Businesses Who Received PPP Funding:
The 411 Restaurant And Lounge LLC
Smokin Stan's BBQ LLC
White Mulberry Bakery
District Tt Hospitality LLC
Blue Dream Adventures LLC
Norfolk II Subs Inc
Domino's Of Norfolk
Industry PPP Comparison Statistics
Nationwide, 328,914 businesses in the "Full-Service Restaurants" industry received a total of $42.6B in PPP loans. These businesses account for 3% of total PPP applications submitted, and received 5% of the total PPP funding allocated.
PPP recipients in this industry report an average of 22 employees, 450% higher than Veterans Of Foreign Wars Of The 1644's reported 4 employees, and received an average PPP loan of $129,504, 418% higher than this company's loan of $24,997.
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Footnotes & Information
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