PPP Loan Data — Wheat's Lawn And Custom Landscaping, Inc, Vienna, VA
Wheat's Lawn And Custom Landscaping, Inc is a subchapter s corporation located at 8620 Park Street in Vienna, Virginia that received a Coronavirus-related PPP loan from the SBA of $1,866,838.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Cornerstone National Bank & Trust Company
Wheat's Lawn And Custom Landscaping, Inc in Vienna, VA received a Paycheck Protection Loan of $1.87M through Cornerstone National Bank & Trust Company, 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 December, 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, Wheat's Lawn And Custom Landscaping, Inc's 2019 payroll expenses are estimated to be at least $8.96M.
Based on their reported 188 jobs retained, this equals an estimated average yearly compensation of $47,664 per employee1
Reported PPP Proceed Usage:
On the PPP application, Wheat's Lawn And Custom Landscaping, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,493,470
- Utilities: $93,342
- Mortgage Interest: $93,342
- Rent: $186,684
Business Information - Wheat's Lawn And Custom Landscaping, Inc in Vienna, VA
8620 Park Street
Vienna, VA 22180
Landscape Architectural Services
NAICS code 541320
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Vienna
In the Vienna area, 3 businesses in the "Landscape Architectural Services" industry received a PPP loan. These local businesses reported an average of 65 employees (compared to this company's 188) and received an average PPP loan of $640,786 (compared to this company's $1.87M).
Similar Nearby Businesses Who Received PPP Funding:
Aurora Landscapes, LLC
R A D Landscaping LLC
Industry PPP Comparison Statistics
Nationwide, 19,939 businesses in the "Landscape Architectural Services" industry received a total of $1.34B 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, 95% lower than Wheat's Lawn And Custom Landscaping, Inc's reported 188 employees, and received an average PPP loan of $67,388, 96% lower than this company's loan of $1.87M.
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Footnotes & Information
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