PPP Loan Data — Victoria Charles, LLC, Richmond, VA
Victoria Charles, LLC is a limited liability company (LLC) located at 5707 Grove Ave., Suite 200 in Richmond, Virginia that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Blue Ridge Bank, National Association
Victoria Charles, LLC in Richmond, VA received a Paycheck Protection Loan of $25,000 through Blue Ridge Bank, National Association, 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, Victoria Charles, LLC's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $24,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Victoria Charles, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $19,850
- Rent: $5,000
- Health Care: $150
Business Information - Victoria Charles, LLC in Richmond, VA
5707 Grove Ave., Suite 200
Richmond, VA 23226
NAICS code 448310
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Richmond
In the Richmond area, 9 businesses in the "Jewelry Stores" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 5) and received an average PPP loan of $35,088 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Charles Schwarzschild, Inc
William Carreras Diamonds LTD
Victoria Jewelers Inc
Industry PPP Comparison Statistics
Nationwide, 22,187 businesses in the "Jewelry Stores" industry received a total of $956.02M 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 5 employees, the same amount reported by Victoria Charles, LLC and received an average PPP loan of $43,089, 72% higher than this company's loan of $25,000.
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Footnotes & Information
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