PPP Loan Data — Vitantonio Previte Funeral Home Inc, Cleveland, OH
Vitantonio Previte Funeral Home Inc is a subchapter s corporation located at 2110 Murray Hill Road in Cleveland, Ohio that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.
The company has reported itself as a male owned business, and employed at least two people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:The Huntington National Bank
Vitantonio Previte Funeral Home Inc in Cleveland, OH received a Paycheck Protection Loan of $25,000 through The Huntington National Bank, 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, Vitantonio Previte Funeral Home Inc'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, Vitantonio Previte Funeral Home Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Vitantonio Previte Funeral Home Inc in Cleveland, OH
2110 Murray Hill Road
Cleveland, OH 44106
Funeral Homes and Funeral Services
NAICS code 812210
Business Owner Demographics
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Cleveland
In the Cleveland area, 10 businesses in the "Funeral Homes and Funeral Services" industry received a PPP loan. These local businesses reported an average of 16 employees (compared to this company's 2) and received an average PPP loan of $77,056 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Komorowski Funeral Home Inc
Watson's Funeral Home Inc
Mcgorray-Hanna Funeral Homes, Inc
Zeis-Mcgreevey Funeral Home, Inc
Gaines Funeral Home, Inc
E F Boyd & Son Inc
Esposito Mortuary Services Inc
Golubski Funeral Home, Inc
Industry PPP Comparison Statistics
Nationwide, 10,120 businesses in the "Funeral Homes and Funeral Services" industry received a total of $621.85M 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 8 employees, 300% higher than Vitantonio Previte Funeral Home Inc's reported 2 employees, and received an average PPP loan of $61,448, 146% higher than this company's loan of $25,000.
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Footnotes & Information
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