PPP Loan Data — Wilson & Associates CPAs, Smithfield, NC
Wilson & Associates CPAs is a partnership located at 101 E Johnston Street in Smithfield, North Carolina that received a Coronavirus-related PPP loan from the SBA of $46,358.00 in June, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Square Capital, LLC
Wilson & Associates CPAs in Smithfield, NC received a Paycheck Protection Loan of $46,358 through Square Capital, LLC, which was approved in June, 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 March, 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, Wilson & Associates CPAs' 2019 payroll expenses are estimated to be at least $222,518.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $37,086 per employee1
Reported PPP Proceed Usage:
On the PPP application, Wilson & Associates CPAs reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $34,768
- Utilities: $5,795
- Mortgage Interest: $5,795
Business Information - Wilson & Associates CPAs in Smithfield, NC
101 E Johnston Street
Smithfield, NC 27577
Offices of Certified Public Accountants
NAICS code 541211
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Rural
Similar Companies near Smithfield
In the Smithfield area, 4 businesses in the "Offices of Certified Public Accountants" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 6) and received an average PPP loan of $38,678 (compared to this company's $46,358).
Similar Nearby Businesses Who Received PPP Funding:
Watson, Cooke, & Jones, PA
Industry PPP Comparison Statistics
Nationwide, 57,013 businesses in the "Offices of Certified Public Accountants" industry received a total of $4.21B 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 6 employees, the same amount reported by Wilson & Associates CPAs and received an average PPP loan of $73,772, 59% higher than this company's loan of $46,358.
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Footnotes & Information
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