PPP Loan Data — Wisdom Path PLLC, Morganton, NC
Wisdom Path PLLC
Entity: Limited Liability Company (LLC)
Location: Morganton, NCTweet This • Search All PPP Data
Wisdom Path PLLC is a limited liability company (LLC) located at 220 W Union St in Morganton, North Carolina that received a Coronavirus-related PPP loan from the SBA of $47,100.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:First-Citizens Bank & Trust Company
Wisdom Path PLLC in Morganton, NC received a Paycheck Protection Loan of $47,100 through First-Citizens Bank & Trust Company, 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, Wisdom Path PLLC's 2019 payroll expenses are estimated to be at least $226,080.
Based on their reported 9 jobs retained, this equals an estimated average yearly compensation of $25,120 per employee1
Reported PPP Proceed Usage:
On the PPP application, Wisdom Path PLLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $47,100
Business Information - Wisdom Path PLLC in Morganton, NC
220 W Union St
Morganton, NC 28655
Offices of Mental Health Practitioners (except Physicians)
NAICS code 621330
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Morganton
In the Morganton area, 3 businesses in the "Offices of Mental Health Practitioners (except Physicians)" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 9) and received an average PPP loan of $21,808 (compared to this company's $47,100).
Similar Nearby Businesses Who Received PPP Funding:
Mimosa Christian Counseling Center Inc
Industry PPP Comparison Statistics
Nationwide, 35,652 businesses in the "Offices of Mental Health Practitioners (except Physicians)" industry received a total of $1.26B 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 4 employees, 56% lower than Wisdom Path PLLC's reported 9 employees, and received an average PPP loan of $35,352, 25% lower than this company's loan of $47,100.
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