PPP Loan Data — Handyman Repair Services Of Lakeland, Lakeland, FL
Handyman Repair Services Of Lakeland is a limited liability company (LLC) located at 2000 E Edgewood Dr Ste 104 in Lakeland, Florida that received a Coronavirus-related PPP loan from the SBA of $25,359.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Handyman Repair Services Of Lakeland in Lakeland, FL received a Paycheck Protection Loan of $25,359 through Midflorida CU, which was approved in May, 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 February, 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, Handyman Repair Services Of Lakeland's 2019 payroll expenses are estimated to be at least $121,723.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,862 per employee1
Reported PPP Proceed Usage:
On the PPP application, Handyman Repair Services Of Lakeland reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,359
Business Information - Handyman Repair Services Of Lakeland in Lakeland, FL
2000 E Edgewood Dr Ste 104
Lakeland, FL 33803
NAICS code 236118
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Lakeland
In the Lakeland area, 15 businesses in the "Residential Remodelers" industry received a PPP loan. These local businesses reported an average of 8 employees (compared to this company's 2) and received an average PPP loan of $63,999 (compared to this company's $25,359).
Similar Nearby Businesses Who Received PPP Funding:
360 Building Solutions LLC
Florida Kitchen & Bath Designs Inc
Sharrett Construction, LLC
Mkay Investments Inc
Megg Investments Of Polk, LLC
Quality Midstate Construction Inc
Industry PPP Comparison Statistics
Nationwide, 175,017 businesses in the "Residential Remodelers" industry received a total of $5.32B 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 3 employees, 50% higher than Handyman Repair Services Of Lakeland's reported 2 employees, and received an average PPP loan of $30,405, 20% higher than this company's loan of $25,359.
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Footnotes & Information
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