PPP Loan Data — Agapeland Community Services Inc, Marion, SC
Agapeland Community Services Inc is a corporation located at 304 Huggins Street in Marion, South Carolina that received a Coronavirus-related PPP loan from the SBA of $24,920.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Fountainhead SBF LLC
Agapeland Community Services Inc in Marion, SC received a Paycheck Protection Loan of $24,920 through Fountainhead SBF LLC, 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, Agapeland Community Services Inc's 2019 payroll expenses are estimated to be at least $119,616.
Based on their reported 12 jobs retained, this equals an estimated average yearly compensation of $9,968 per employee1
Reported PPP Proceed Usage:
On the PPP application, Agapeland Community Services Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,920
Business Information - Agapeland Community Services Inc in Marion, SC
304 Huggins Street
Marion, SC 29571
Child Day Care Services
NAICS code 624410
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Marion
In the Marion area, 17 businesses in the "Child Day Care Services" industry received a PPP loan. These local businesses reported an average of 8 employees (compared to this company's 12) and received an average PPP loan of $31,079 (compared to this company's $24,920).
Similar Nearby Businesses Who Received PPP Funding:
Shining Star Daycare
First United Methodist Childcare Center
Happy Hearts Learning Ladder
Sugar Bear's DCCd Learning Center
Tender Loving Care
Love N Care
Child Development Ministry
Myrtle Beach, SC
Industry PPP Comparison Statistics
Nationwide, 132,794 businesses in the "Child Day Care Services" industry received a total of $5.53B 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 8 employees, 33% lower than Agapeland Community Services Inc's reported 12 employees, and received an average PPP loan of $41,676, 67% higher than this company's loan of $24,920.
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Footnotes & Information
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