PPP Loan Data — Facilities Management Services, Pbc, Louisville, KY

Facilities Management Services, Pbc

Entity: Corporation

Industry: Janitorial Services

Location: Louisville, KY

Facilities Management Services, Pbc is a corporation located at 1500 Lytle Street 0.0 in Louisville, Kentucky that received a Coronavirus-related PPP loan from the SBA of $3,533,355.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least 500 people during the applicable loan loan period.

$ PPP Loan Information
Loan #1809557103

Loan Size:

$3.53M

Jobs Retained:

500

Loan Approved:

2020-04-10

Loan Status:

Paid in Full or Forgiven

Lender:

JPMorgan Chase Bank, National Association

Facilities Management Services, Pbc in Louisville, KY received a Paycheck Protection Loan of $3.53M through JPMorgan Chase Bank, National Association, 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 September, 2021.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

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, Facilities Management Services, Pbc's 2019 payroll expenses are estimated to be at least $16.96M.

Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $33,920 per employee¹

Reported PPP Proceed Usage:

On the PPP application, Facilities Management Services, Pbc reported intending to use the proceeds of their PPP loan for the following expenses:

Payroll: $3,294,555
Utilities: $5,000
Rent: $30,250
Health Care: $203,550

Because the loan received by Facilities Management Services, Pbc is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Facilities Management Services, Pbc in Louisville, KY

Facilities Management Services, Pbc
1500 Lytle Street 0.0
Louisville, KY 40203

Business Industry:
Janitorial Services
NAICS code 561720

Business Owner Demographics

Race: Unreported

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: Y

Rural / Urban: Urban

Jefferson County, KY — SBA Office 0457 — Congressional District: KY-03

Similar Companies near Louisville

In the Louisville area, 10 businesses in the "Janitorial Services" industry received a PPP loan. These local businesses reported an average of 53 employees (compared to this company's 500) and received an average PPP loan of $370,226 (compared to this company's $3.53M).

Similar Nearby Businesses Who Received PPP Funding:

Mcleod Services LLC
Louisville, KY

$3,427 PPP Loan

Kentucky Cleaning Technology Inc
Louisville, KY

$104,200 PPP Loan

Nicole Carrig
Louisville, KY

$20,520 PPP Loan

So Clean Cleaning Service, LLC
Louisville, KY

$2,022 PPP Loan

Annie Whitlock
Louisville, KY

$20,520 PPP Loan

Clutter Investigations Of Kentucky Inc
Louisville, KY

$7,500 PPP Loan

Seana Parr
Louisville, KY

$3,898 PPP Loan

Mcleod Services
Louisville, KY

$4,793 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 138,593 businesses in the "Janitorial Services" industry received a total of $4.29B 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, 99% lower than Facilities Management Services, Pbc's reported 500 employees, and received an average PPP loan of $30,982, 99% lower than this company's loan of $3.53M.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.

All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.

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