PPP Loan Data — Winks Of Corolla, Inc, Corolla, NC
Winks Of Corolla, Inc is a subchapter s corporation located at 1150 Ocean Trail in Corolla, North Carolina that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Winks Of Corolla, Inc in Corolla, NC received a Paycheck Protection Loan of $25,000 through Towne Bank, 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, Winks Of Corolla, Inc's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Winks Of Corolla, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Winks Of Corolla, Inc in Corolla, NC
1150 Ocean Trail
Corolla, NC 27927
NAICS code 445120
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 30,055 businesses in the "Convenience Stores" industry received a total of $856.22M 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, 50% higher than Winks Of Corolla, Inc's reported 4 employees, and received an average PPP loan of $28,488, 14% higher than this company's loan of $25,000.
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Footnotes & Information
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