PPP Loan Data — Wendelta, Inc, Memphis, TN
Wendelta, Inc is a corporation located at 119 S Main St Suite 800 in Memphis, Tennessee that received a Coronavirus-related PPP loan from the SBA of $10,000,000.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:First Horizon Bank
Wendelta, Inc in Memphis, TN received a Paycheck Protection Loan of $10M through First Horizon 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, Wendelta, Inc's 2019 payroll expenses are estimated to be at least $48M.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $96,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Wendelta, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $8,591,000
- Utilities: $1,409,000
Business Information - Wendelta, Inc in Memphis, TN
119 S Main St Suite 800
Memphis, TN 38103
NAICS code 722513
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Memphis
In the Memphis area, 50 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 29 employees (compared to this company's 500) and received an average PPP loan of $296,077 (compared to this company's $10M).
Similar Nearby Businesses Who Received PPP Funding:
KC Wimpy's #2 LLC
TN Coffee LLC
Whiddenprise IV LLC
Happy Mexican LLC
Bedrock Eats & Sweets, LLC
Jubilee Memphis Union LLC
KGR Cooper LLC
Industry PPP Comparison Statistics
Nationwide, 127,949 businesses in the "Limited-Service Restaurants" industry received a total of $13.48B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 22 employees, 96% lower than Wendelta, Inc's reported 500 employees, and received an average PPP loan of $105,388, 99% lower than this company's loan of $10M.
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Footnotes & Information
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