PPP Loan Data — Elias Cleaning Services Inc, Springfield, MA
Elias Cleaning Services Inc is a subchapter s corporation located at 480 Plumtree Rd in Springfield, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $25,462.00 in January, 2021.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Santander Bank, National Association
Elias Cleaning Services Inc in Springfield, MA received a Paycheck Protection Loan of $25,462 through Santander Bank, National Association, which was approved in January, 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, Elias Cleaning Services Inc's 2019 payroll expenses are estimated to be at least $122,218.
Based on their reported 11 jobs retained, this equals an estimated average yearly compensation of $11,111 per employee1
Reported PPP Proceed Usage:
On the PPP application, Elias Cleaning Services Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,461
- Utilities: $1
Business Information - Elias Cleaning Services Inc in Springfield, MA
480 Plumtree Rd
Springfield, MA 1118
NAICS code 561720
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Springfield
In the Springfield area, 4 businesses in the "Janitorial Services" industry received a PPP loan. These local businesses reported an average of 6 employees (compared to this company's 11) and received an average PPP loan of $13,356 (compared to this company's $25,462).
Similar Nearby Businesses Who Received PPP Funding:
Elias Cleaning Inc
Busy Bs Cleaning Service
Industry PPP Comparison Statistics
Nationwide, 146,067 businesses in the "Janitorial Services" industry received a total of $4.43B 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, 55% lower than Elias Cleaning Services Inc's reported 11 employees, and received an average PPP loan of $30,311, 19% higher than this company's loan of $25,462.
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Footnotes & Information
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