PPP Loan Data — Vita Aetos Inc, Allentown, PA
Vita Aetos Inc is a corporation located at 4102 Chestnut St in Allentown, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $1,400.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least five people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Univest Bank and Trust Co.
Vita Aetos Inc in Allentown, PA received a Paycheck Protection Loan of $1,400 through Univest Bank and Trust Co., which was approved in April, 2020.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.Read More
Understanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.Read More
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, Vita Aetos Inc's 2019 payroll expenses are estimated to be at least $6,720.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $1,344 per employee1
Reported PPP Proceed Usage:
On the PPP application, Vita Aetos Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,400
Business Information - Vita Aetos Inc in Allentown, PA
4102 Chestnut St
Allentown, PA 18104
NAICS code 722511
Business Owner Demographics
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Allentown
In the Allentown area, 86 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 19 employees (compared to this company's 5) and received an average PPP loan of $85,348 (compared to this company's $1,400).
Similar Nearby Businesses Who Received PPP Funding:
Grumpys BBQ Inc
Hops At The Paddock Inc
Shanty On 19Th Inc
The Dining Dog LLC
SRI Dhumraketu LLC
CK Macedonia, Inc
Nicos Pizza-Teria LLC
Industry PPP Comparison Statistics
Nationwide, 326,480 businesses in the "Full-Service Restaurants" industry received a total of $42.51B 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, 340% higher than Vita Aetos Inc's reported 5 employees, and received an average PPP loan of $130,209, 9201% higher than this company's loan of $1,400.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!