PPP Loan Data — Infinity Eye Care LLC-Sba Small 7A Term, Charleston, SC
Infinity Eye Care LLC-Sba Small 7A Term is a limited liability company (LLC) located at 325 Folly Rd in Charleston, South Carolina that received a Coronavirus-related PPP loan from the SBA of $25,432.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:TD Bank, National Association
Infinity Eye Care LLC-Sba Small 7A Term in Charleston, SC received a Paycheck Protection Loan of $25,432 through TD Bank, National Association, which was approved in May, 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, Infinity Eye Care LLC-Sba Small 7A Term's 2019 payroll expenses are estimated to be at least $122,074.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $20,346 per employee1
Reported PPP Proceed Usage:
On the PPP application, Infinity Eye Care LLC-Sba Small 7A Term reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,432
Business Information - Infinity Eye Care LLC-Sba Small 7A Term in Charleston, SC
325 Folly Rd
Charleston, SC 29412
Offices of Optometrists
NAICS code 621320
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Charleston
In the Charleston area, 10 businesses in the "Offices of Optometrists" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 6) and received an average PPP loan of $18,785 (compared to this company's $25,432).
Similar Nearby Businesses Who Received PPP Funding:
Charleston Vision Center LLC
Dr Alice C Sun & Assoc PC
Tide Eyes, LLC
Palmetto Vision Care LLC
Coastal Eye Care Of James Island LLC
Industry PPP Comparison Statistics
Nationwide, 27,285 businesses in the "Offices of Optometrists" industry received a total of $1.98B 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 8 employees, 33% higher than Infinity Eye Care LLC-Sba Small 7A Term's reported 6 employees, and received an average PPP loan of $72,657, 186% higher than this company's loan of $25,432.
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Footnotes & Information
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