PPP Loan Data — Way-To-Go Merchandising And Staffing, LLC, North Wilkesboro, NC
Way-To-Go Merchandising And Staffing, LLC
Entity: Limited Liability Company (LLC)
Location: North Wilkesboro, NCTweet This • Search All PPP Data
Way-To-Go Merchandising And Staffing, LLC is a limited liability company (LLC) located at 905 Cherry St in North Wilkesboro, North Carolina that received a Coronavirus-related PPP loan from the SBA of $1,912,700.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 296 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Surrey Bank & Trust
Way-To-Go Merchandising And Staffing, LLC in North Wilkesboro, NC received a Paycheck Protection Loan of $1.91M through Surrey Bank & Trust, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in April, 2021.
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, Way-To-Go Merchandising And Staffing, LLC's 2019 payroll expenses are estimated to be at least $9.18M.
Based on their reported 296 jobs retained, this equals an estimated average yearly compensation of $31,017 per employee1
Reported PPP Proceed Usage:
On the PPP application, Way-To-Go Merchandising And Staffing, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,912,700
Business Information - Way-To-Go Merchandising And Staffing, LLC in North Wilkesboro, NC
905 Cherry St
North Wilkesboro, NC 28659
Other Miscellaneous Durable Goods Merchant Wholesalers
NAICS code 423990
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Rural
Similar Companies near North Wilkesboro
In the North Wilkesboro area, 2 businesses in the "Other Miscellaneous Durable Goods Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 149 employees (compared to this company's 296) and received an average PPP loan of $962,600 (compared to this company's $1.91M).
Similar Nearby Businesses Who Received PPP Funding:
Duncan Sales Group LLC
Industry PPP Comparison Statistics
Nationwide, 26,568 businesses in the "Other Miscellaneous Durable Goods Merchant Wholesalers" industry received a total of $1.98B 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 7 employees, 98% lower than Way-To-Go Merchandising And Staffing, LLC's reported 296 employees, and received an average PPP loan of $74,615, 96% lower than this company's loan of $1.91M.
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Footnotes & Information
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