PPP Loan Data — Village Square Apartments Inc, Shelbyville, IN
Village Square Apartments Inc is a corporation located at 217 N 425 E in Shelbyville, Indiana that received a Coronavirus-related PPP loan from the SBA of $24,811.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:First Merchants Bank
Village Square Apartments Inc in Shelbyville, IN received a Paycheck Protection Loan of $24,811 through First Merchants 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, Village Square Apartments Inc's 2019 payroll expenses are estimated to be at least $119,093.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $29,773 per employee1
Reported PPP Proceed Usage:
On the PPP application, Village Square Apartments Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,811
Business Information - Village Square Apartments Inc in Shelbyville, IN
217 N 425 E
Shelbyville, IN 46176
Other Community Housing Services
NAICS code 624229
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, 3,220 businesses in the "Other Community Housing Services" industry received a total of $446.94M 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 16 employees, 300% higher than Village Square Apartments Inc's reported 4 employees, and received an average PPP loan of $138,802, 459% higher than this company's loan of $24,811.
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Footnotes & Information
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