PPP Loan Data — VFW Post 6027, North East, MD
VFW Post 6027 is a non-profit organization located at 815 Turkey Point Rd in North East, Maryland that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:PNC Bank, National Association
VFW Post 6027 in North East, MD received a Paycheck Protection Loan of $25,000 through PNC Bank, National Association, which was approved in May, 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, VFW Post 6027's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 15 jobs retained, this equals an estimated average yearly compensation of $8,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, VFW Post 6027 reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - VFW Post 6027 in North East, MD
815 Turkey Point Rd
North East, MD 21901
Civic and Social Organizations
NAICS code 813410
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Rural
Similar Companies near North East
In the North East area, 2 businesses in the "Civic and Social Organizations" industry received a PPP loan. These local businesses reported an average of 8 employees (compared to this company's 15) and received an average PPP loan of $22,900 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Ecoscience Solutions LLC
North East, MD
Industry PPP Comparison Statistics
Nationwide, 18,550 businesses in the "Civic and Social Organizations" industry received a total of $2.6B 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 20 employees, 33% higher than VFW Post 6027's reported 15 employees, and received an average PPP loan of $140,085, 460% higher than this company's loan of $25,000.
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Footnotes & Information
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