PPP Loan Data — Egon Singerman, Solon, OH
Entity: Subchapter S Corporation
Location: Solon, OHTweet This • Search All PPP Data
Egon Singerman is a subchapter s corporation located at 30625 Solon Rd in Solon, Ohio that received a Coronavirus-related PPP loan from the SBA of $25,400.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:PNC Bank, National Association
Egon Singerman in Solon, OH received a Paycheck Protection Loan of $25,400 through PNC Bank, National Association, which was approved in May, 2020.
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
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, Egon Singerman's 2019 payroll expenses are estimated to be at least $121,920.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,480 per employee1
Reported PPP Proceed Usage:
On the PPP application, Egon Singerman reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,400
Business Information - Egon Singerman in Solon, OH
30625 Solon Rd
Solon, OH 44139
Residential Mental Health and Substance Abuse Facilities
NAICS code 623220
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Solon
In the Solon area, 2 businesses in the "Residential Mental Health and Substance Abuse Facilities" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 4) and received an average PPP loan of $28,400 (compared to this company's $25,400).
Similar Nearby Businesses Who Received PPP Funding:
Be Well Solutions Distance Dietetic Internship Program
Industry PPP Comparison Statistics
Nationwide, 3,600 businesses in the "Residential Mental Health and Substance Abuse Facilities" industry received a total of $1.06B 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 36 employees, 800% higher than Egon Singerman's reported 4 employees, and received an average PPP loan of $295,104, 1062% higher than this company's loan of $25,400.
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Footnotes & Information
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