PPP Loan Data — Elite Storage Solutions LLC, Monroe, GA
Elite Storage Solutions LLC
Entity: Limited Liability Company (LLC)
Location: Monroe, GATweet This • Search All PPP Data
Elite Storage Solutions LLC is a limited liability company (LLC) located at 1118 W. Spring St in Monroe, Georgia that received a Coronavirus-related PPP loan from the SBA of $2,772,700.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Security Bank and Trust Company
Elite Storage Solutions LLC in Monroe, GA received a Paycheck Protection Loan of $2.77M through Security Bank and Trust Company, 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, Elite Storage Solutions LLC's 2019 payroll expenses are estimated to be at least $13.31M.
Based on their reported 215 jobs retained, this equals an estimated average yearly compensation of $61,902 per employee1
Reported PPP Proceed Usage:
On the PPP application, Elite Storage Solutions LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,772,700
Business Information - Elite Storage Solutions LLC in Monroe, GA
1118 W. Spring St
Monroe, GA 30655
All Other Miscellaneous Fabricated Metal Product Manufacturing
NAICS code 332999
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 8,434 businesses in the "All Other Miscellaneous Fabricated Metal Product Manufacturing" industry received a total of $1.95B 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 20 employees, 91% lower than Elite Storage Solutions LLC's reported 215 employees, and received an average PPP loan of $231,549, 92% lower than this company's loan of $2.77M.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!