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PPP Loan Data — J & L Services Inc,
Myrtle Beach, SC
J & L Services Inc
Entity: Corporation
Industry: Limited-Service Restaurants
Location: Myrtle Beach, SC
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J & L Services Inc is a corporation located at 171 Mcdonald Court in Myrtle Beach, South Carolina that received a Coronavirus-related PPP loan from the SBA of $2,507,095.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
500Loan Approved:
2020-04-15Lender:
BANK OF AMERICA, NATIONAL ASSOCIATIONJ & L Services Inc in Myrtle Beach, SC received a Paycheck Protection Loan of $2.51M through BANK OF AMERICA, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, J & L Services Inc's total 2019 payroll expenses were approximately $12.03M in order to qualify for the PPP loan amount received.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $24,068 per employee1.
Business Information - J & L Services Inc in Myrtle Beach, SC
171 Mcdonald Court
Myrtle Beach, SC 29588
Business Industry
Limited-Service Restaurants (NAICS code 722513)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: SC-07Similar Companies near Myrtle Beach
In the Myrtle Beach area, 20 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 38 employees (compared to this company's 500) and received an average PPP loan of $197,336 (compared to this company's $2.51M).
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Industry PPP Comparison Statistics
Nationwide, 79,996 businesses in the "Limited-Service Restaurants" industry received a total of $9,671,819,152.00 in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 23 employees, 95% lower than J & L Services Inc's reported 500 employees, and received an average PPP loan of $120,904, 95% lower than this company's loan of $2.51M.
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, and is published unmodified, as provided by the SBA.
Footnotes & Information
1. 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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