PPP Loan Data — Vintage Piece Infinity LLC, Philadelphia, PA
Vintage Piece Infinity LLC is a limited liability company (LLC) located at 1113 Montrose Street in Philadelphia, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in August, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Cross River Bank
Vintage Piece Infinity LLC in Philadelphia, PA received a Paycheck Protection Loan of $25,000 through Cross River Bank, which was approved in August, 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, Vintage Piece Infinity LLC's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Vintage Piece Infinity LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Vintage Piece Infinity LLC in Philadelphia, PA
1113 Montrose Street
Philadelphia, PA 19147
All Other Personal Services
NAICS code 812990
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Philadelphia
In the Philadelphia area, 91 businesses in the "All Other Personal Services" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 2) and received an average PPP loan of $20,696 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Ding Shi Foot Health Center Inc
Industry PPP Comparison Statistics
Nationwide, 237,729 businesses in the "All Other Personal Services" industry received a total of $5.63B in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 3 employees, 50% higher than Vintage Piece Infinity LLC's reported 2 employees, and received an average PPP loan of $23,676, 5% lower than this company's loan of $25,000.
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Footnotes & Information
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