PPP Loan Data — J Chones Co LTD, Beachwood, OH
J Chones Co LTD
Entity: Limited Liability Partnership
Location: Beachwood, OHTweet This • Search All PPP Data
J Chones Co LTD is a limited liability partnership located at 26900 George Zeiger Dr Apt 527 in Beachwood, Ohio that received a Coronavirus-related PPP loan from the SBA of $25,030.00 in April, 2020.
The company has reported itself as a Black or african american male owned business, and employed at least two people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:The Huntington National Bank
J Chones Co LTD in Beachwood, OH received a Paycheck Protection Loan of $25,030 through The Huntington National Bank, which was approved in April, 2020.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
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, J Chones Co LTD's 2019 payroll expenses are estimated to be at least $120,144.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,072 per employee1
Reported PPP Proceed Usage:
On the PPP application, J Chones Co LTD reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,030
Business Information - J Chones Co LTD in Beachwood, OH
26900 George Zeiger Dr Apt 527
Beachwood, OH 44122
Other Scientific and Technical Consulting Services
NAICS code 541690
Business Owner Demographics
Race: Black or African American
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Beachwood
In the Beachwood area, 13 businesses in the "Other Scientific and Technical Consulting Services" industry received a PPP loan. These local businesses reported an average of 17 employees (compared to this company's 2) and received an average PPP loan of $307,899 (compared to this company's $25,030).
Similar Nearby Businesses Who Received PPP Funding:
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BSA Environmental Services
Suresite Consulting Group, LLC
Industry PPP Comparison Statistics
Nationwide, 28,306 businesses in the "Other Scientific and Technical Consulting Services" industry received a total of $2.1B 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 6 employees, 200% higher than J Chones Co LTD's reported 2 employees, and received an average PPP loan of $74,096, 196% higher than this company's loan of $25,030.
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