PPP Loan Data — Vortexhealing, Inc, Amherst, MA
Vortexhealing, Inc is a corporation located at 20 Whippletree Ln in Amherst, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Vortexhealing, Inc in Amherst, MA received a Paycheck Protection Loan of $25,000 through Customers 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, Vortexhealing, 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, Vortexhealing, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Vortexhealing, Inc in Amherst, MA
20 Whippletree Ln
Amherst, MA 1002
All Other Miscellaneous Schools and Instruction
NAICS code 611699
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Amherst
In the Amherst area, 5 businesses in the "All Other Miscellaneous Schools and Instruction" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 2) and received an average PPP loan of $40,192 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Spring Street Preschool, Inc
Hillel House At The University Of Massachusetts/Amherst, Inc
Shraddha Yoga LLC
New England School Of Homeopathy Inc
Industry PPP Comparison Statistics
Nationwide, 28,242 businesses in the "All Other Miscellaneous Schools and Instruction" industry received a total of $1.52B 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 9 employees, 350% higher than Vortexhealing, Inc's reported 2 employees, and received an average PPP loan of $53,678, 115% higher than this company's loan of $25,000.
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Footnotes & Information
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