PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — 205B LLC, Collinsville, IL

ALERT: There are 2 PPP loans for a total of $166,001 in our database for businesses with the name "205B LLC" in Collinsville, IL. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for 205B LLC
IL

205B LLC

Entity: Limited Liability Company (LLC)

Industry: Janitorial Services

Location: Collinsville, IL

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205B LLC is a limited liability company (LLC) located at 620 W Main St in Collinsville, Illinois that received a Coronavirus-related PPP loan from the SBA of $85,574.00 in May, 2021.

The company has reported itself as a White male veteran owned business, and employed at least fifteen people during the applicable loan loan period.

$ PPP Loan Information
Loan #2683259010

Loan Size:

$85,574

Jobs Retained:

15

Loan Approved:

2021-05-18

Loan Status:

Ongoing Loan

Lender:

Alliance CU

205B LLC in Collinsville, IL received a Paycheck Protection Loan of $85,574 through Alliance CU, which was approved in May, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, 205B LLC's 2019 payroll expenses are estimated to be at least $410,755.

Based on their reported 15 jobs retained, this equals an estimated average yearly compensation of $27,384 per employee1

Reported PPP Proceed Usage:

On the PPP application, 205B LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $85,574

Business Information - 205B LLC in Collinsville, IL

205B LLC
620 W Main St
Collinsville, IL 62234

Business Industry:
Janitorial Services
NAICS code 561720

Business Owner Demographics

Race: White

Ethnicity: Unreported

Gender: Male Owned

Veteran Status: Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: N

Rural / Urban: Urban

Madison County, IL — SBA Office 0507 — Congressional District: IL-13

Similar Companies near Collinsville

In the Collinsville area, 18 businesses in the "Janitorial Services" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 15) and received an average PPP loan of $17,475 (compared to this company's $85,574).

Industry PPP Comparison Statistics

Nationwide, 138,723 businesses in the "Janitorial Services" industry received a total of $4.3B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.

PPP recipients in this industry report an average of 5 employees, 67% lower than 205B LLC's reported 15 employees, and received an average PPP loan of $30,971, 64% lower than this company's loan of $85,574.

SBA PPP loan data, payroll data, and salaries for 205B, LLC

FRANCHISE

IL

205B, LLC

Entity: Limited Liability Company (LLC)

Industry: Carpet and Upholstery Cleaning Services

Franchise: Home Cleaning Centers of America

Location: Collinsville, IL

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205B, LLC is a limited liability company (LLC) located at 620 Main St in Collinsville, Illinois that received a Coronavirus-related PPP loan from the SBA of $80,427.00 in April, 2020. This business is a Home Cleaning Centers of America franchise.

The company has reported itself as a White male veteran owned business, and employed at least fifteen people during the applicable loan loan period.

$ PPP Loan Information
Loan #5477867005

Loan Size:

$80,427

Jobs Retained:

15

Loan Approved:

2020-04-05

Loan Status:

Paid in Full or Forgiven

Lender:

Triad Bank

205B, LLC in Collinsville, IL received a Paycheck Protection Loan of $80,427 through Triad 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

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, 205B, LLC's 2019 payroll expenses are estimated to be at least $386,050.

Based on their reported 15 jobs retained, this equals an estimated average yearly compensation of $25,737 per employee1

Reported PPP Proceed Usage:

On the PPP application, 205B, LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $80,427

Business Information - 205B, LLC in Collinsville, IL

205B, LLC
620 Main St
Collinsville, IL 62234

Business Industry:
Carpet and Upholstery Cleaning Services
NAICS code 561740

Business Owner Demographics

Race: White

Ethnicity: Unreported

Gender: Male Owned

Veteran Status: Veteran

Business Demographics

Business Age: New Business or 2 years or less

LMI Zone: Y

HUBZone: N

Rural / Urban: Urban

Madison County, IL — SBA Office 0507 — Congressional District: IL-13

Similar Companies near Collinsville

In the Collinsville area, 5 businesses in the "Carpet and Upholstery Cleaning Services" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 15) and received an average PPP loan of $27,516 (compared to this company's $80,427).

Industry PPP Comparison Statistics

Nationwide, 25,036 businesses in the "Carpet and Upholstery Cleaning Services" industry received a total of $648.42M 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 3 employees, 80% lower than 205B, LLC's reported 15 employees, and received an average PPP loan of $25,899, 68% lower than this company's loan of $80,427.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.

All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/205b-llc-collinsville-il