PPP Loan Data — Washington Crossing Travel Inc, Washington Crossing, PA
Washington Crossing Travel Inc is a corporation located at 1077 River Road in Washington Crossing, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $46,500.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:The First National Bank and Trust Company of Newtown
Washington Crossing Travel Inc in Washington Crossing, PA received a Paycheck Protection Loan of $46,500 through The First National Bank and Trust Company of Newtown, 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, Washington Crossing Travel Inc's 2019 payroll expenses are estimated to be at least $223,200.
Based on their reported 9 jobs retained, this equals an estimated average yearly compensation of $24,800 per employee1
Reported PPP Proceed Usage:
On the PPP application, Washington Crossing Travel Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $37,200
- Utilities: $4,650
- Mortgage Interest: $4,650
Business Information - Washington Crossing Travel Inc in Washington Crossing, PA
1077 River Road
Washington Crossing, PA 18977
NAICS code 561510
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Washington Crossing
In the Washington Crossing area, 3 businesses in the "Travel Agencies" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 9) and received an average PPP loan of $17,950 (compared to this company's $46,500).
Similar Nearby Businesses Who Received PPP Funding:
Kimberly M O Neill
Industry PPP Comparison Statistics
Nationwide, 21,141 businesses in the "Travel Agencies" industry received a total of $882.75M 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 4 employees, 56% lower than Washington Crossing Travel Inc's reported 9 employees, and received an average PPP loan of $41,755, 10% lower than this company's loan of $46,500.
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