PPP Loan Data — JAE Lee Co, Springfield, VA
JAE Lee Co
Entity: Subchapter S Corporation
Location: Springfield, VATweet This • Search All PPP Data
JAE Lee Co is a subchapter s corporation located at 7661b Fullerton Rd in Springfield, Virginia that received a Coronavirus-related PPP loan from the SBA of $47,030.00 in June, 2020. This business is a Maaco franchise.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Loan Source Incorporated
JAE Lee Co in Springfield, VA received a Paycheck Protection Loan of $47,030 through Loan Source Incorporated, which was approved in June, 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, JAE Lee Co's 2019 payroll expenses are estimated to be at least $225,744.
Based on their reported 9 jobs retained, this equals an estimated average yearly compensation of $25,083 per employee1
Reported PPP Proceed Usage:
On the PPP application, JAE Lee Co reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $47,030
Business Information - JAE Lee Co in Springfield, VA
7661b Fullerton Rd
Springfield, VA 22153
Automotive Body, Paint, and Interior Repair and Maintenance
NAICS code 811121
Business Owner Demographics
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Springfield
In the Springfield area, 13 businesses in the "Automotive Body, Paint, and Interior Repair and Maintenance" industry received a PPP loan. These local businesses reported an average of 9 employees (compared to this company's 9) and received an average PPP loan of $78,141 (compared to this company's $47,030).
Similar Nearby Businesses Who Received PPP Funding:
Evolution Auto Body LLC
Pro Auto Recon LLC
SM Auto Group Inc
Kangaroo Car Care
Kwaik Auto Body LLC
Nova Collision Corporation
G And S Auto Service And Collision
Premier Collision Repair Inc
Industry PPP Comparison Statistics
Nationwide, 41,993 businesses in the "Automotive Body, Paint, and Interior Repair and Maintenance" industry received a total of $2.54B 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, 33% lower than JAE Lee Co's reported 9 employees, and received an average PPP loan of $60,493, 29% higher than this company's loan of $47,030.
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