PPP Loan Data — Wise Buys, Inc, Evergreen, AL
Wise Buys, Inc is a corporation located at 450 W Front Street in Evergreen, Alabama that received a Coronavirus-related PPP loan from the SBA of $25,457.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least thirteen people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Central State Bank
Wise Buys, Inc in Evergreen, AL received a Paycheck Protection Loan of $25,457 through Central State 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 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, Wise Buys, Inc's 2019 payroll expenses are estimated to be at least $122,194.
Based on their reported 13 jobs retained, this equals an estimated average yearly compensation of $9,400 per employee1
Reported PPP Proceed Usage:
On the PPP application, Wise Buys, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,457
Business Information - Wise Buys, Inc in Evergreen, AL
450 W Front Street
Evergreen, AL 36401
All Other General Merchandise Stores
NAICS code 452319
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: New Business or 2 years or less
LMI Zone: Y
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 11,020 businesses in the "All Other General Merchandise Stores" industry received a total of $376.19M 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 5 employees, 62% lower than Wise Buys, Inc's reported 13 employees, and received an average PPP loan of $34,137, 34% higher than this company's loan of $25,457.
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Footnotes & Information
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