PPP Loan Data — Cheng Real Estate Group, LLC, Madison, WI
Cheng Real Estate Group, LLC
Entity: Limited Liability Company (LLC)
Location: Madison, WITweet This • Search All PPP Data
Cheng Real Estate Group, LLC is a limited liability company (LLC) located at 7633 Ganser Way in Madison, Wisconsin that received a Coronavirus-related PPP loan from the SBA of $25,300.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:State Bank of Cross Plains
Cheng Real Estate Group, LLC in Madison, WI received a Paycheck Protection Loan of $25,300 through State Bank of Cross Plains, 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 December, 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, Cheng Real Estate Group, LLC's 2019 payroll expenses are estimated to be at least $121,440.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,480 per employee1
Reported PPP Proceed Usage:
On the PPP application, Cheng Real Estate Group, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,300
Business Information - Cheng Real Estate Group, LLC in Madison, WI
7633 Ganser Way
Madison, WI 53719
Lessors of Nonresidential Buildings (except Miniwarehouses)
NAICS code 531120
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Madison
In the Madison area, 2 businesses in the "Lessors of Nonresidential Buildings (except Miniwarehouses)" industry received a PPP loan. These local businesses reported an average of 8 employees (compared to this company's 3) and received an average PPP loan of $89,925 (compared to this company's $25,300).
Similar Nearby Businesses Who Received PPP Funding:
Work Plus Incorporated
Industry PPP Comparison Statistics
Nationwide, 19,255 businesses in the "Lessors of Nonresidential Buildings (except Miniwarehouses)" industry received a total of $1.72B 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 10 employees, 233% higher than Cheng Real Estate Group, LLC's reported 3 employees, and received an average PPP loan of $89,367, 253% higher than this company's loan of $25,300.
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Footnotes & Information
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