PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Jenison Cleaners Inc, Jenison, MI

ALERT: There are 2 PPP loans for a total of $50,434 in our database for businesses with the name "Jenison Cleaners Inc" in Jenison, MI. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Jenison Cleaners Inc
MI

Jenison Cleaners Inc

Entity: Subchapter S Corporation

Industry: Drycleaning and Laundry Services (except Coin-Operated)

Location: Jenison, MI

Search All PPP Data

Jenison Cleaners Inc is a subchapter s corporation located at 316 Baldwin St in Jenison, Michigan that received a Coronavirus-related PPP loan from the SBA of $25,234.00 in February, 2021.

$ PPP Loan Information
Loan #2092178502

Loan Size:

$25,234

Jobs Retained:

4

Loan Approved:

2021-02-19

Loan Status:

Ongoing Loan

Lender:

Grand River Bank

Jenison Cleaners Inc in Jenison, MI received a Paycheck Protection Loan of $25,234 through Grand River Bank, which was approved in February, 2021.

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

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Jenison Cleaners Inc's 2019 payroll expenses are estimated to be at least $121,123.

Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,281 per employee1

Reported PPP Proceed Usage:

On the PPP application, Jenison Cleaners Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $25,234

Business Information - Jenison Cleaners Inc in Jenison, MI

Jenison Cleaners Inc
316 Baldwin St
Jenison, MI 49428

Business Industry:
Drycleaning and Laundry Services (except Coin-Operated)
NAICS code 812320

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Ottawa County, MI — SBA Office 0515 — Congressional District: MI-02

Similar Companies near Jenison

In the Jenison area, 3 businesses in the "Drycleaning and Laundry Services (except Coin-Operated)" industry received a PPP loan. These local businesses reported an average of 9 employees (compared to this company's 4) and received an average PPP loan of $49,173 (compared to this company's $25,234).

Similar Nearby Businesses Who Received PPP Funding:

HI-Tone Cleaners Inc
Jenison, MI

$97,085 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 29,150 businesses in the "Drycleaning and Laundry Services (except Coin-Operated)" industry received a total of $1.13B 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 7 employees, 75% higher than Jenison Cleaners Inc's reported 4 employees, and received an average PPP loan of $38,609, 53% higher than this company's loan of $25,234.

SBA PPP loan data, payroll data, and salaries for Jenison Cleaners, Inc
MI

Jenison Cleaners, Inc

Entity: Subchapter S Corporation

Industry: Drycleaning and Laundry Services (except Coin-Operated)

Location: Jenison, MI

Search All PPP Data

Jenison Cleaners, Inc is a subchapter s corporation located at 316 Baldwin Street in Jenison, Michigan that received a Coronavirus-related PPP loan from the SBA of $25,200.00 in April, 2020.

$ PPP Loan Information
Loan #3668707203

Loan Size:

$25,200

Jobs Retained:

4

Loan Approved:

2020-04-27

Loan Status:

Paid in Full or Forgiven

Lender:

Grand River Bank

Jenison Cleaners, Inc in Jenison, MI received a Paycheck Protection Loan of $25,200 through Grand River Bank, which was approved in April, 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 May, 2021.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Jenison Cleaners, Inc's 2019 payroll expenses are estimated to be at least $120,960.

Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,240 per employee1

Reported PPP Proceed Usage:

On the PPP application, Jenison Cleaners, Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $25,200

Business Information - Jenison Cleaners, Inc in Jenison, MI

Jenison Cleaners, Inc
316 Baldwin Street
Jenison, MI 49428

Business Industry:
Drycleaning and Laundry Services (except Coin-Operated)
NAICS code 812320

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Ottawa County, MI — SBA Office 0515 — Congressional District: MI-02

Similar Companies near Jenison

In the Jenison area, 3 businesses in the "Drycleaning and Laundry Services (except Coin-Operated)" industry received a PPP loan. These local businesses reported an average of 9 employees (compared to this company's 4) and received an average PPP loan of $49,173 (compared to this company's $25,200).

Similar Nearby Businesses Who Received PPP Funding:

HI-Tone Cleaners Inc
Jenison, MI

$97,085 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 29,150 businesses in the "Drycleaning and Laundry Services (except Coin-Operated)" industry received a total of $1.13B 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 7 employees, 75% higher than Jenison Cleaners, Inc's reported 4 employees, and received an average PPP loan of $38,609, 53% higher than this company's loan of $25,200.

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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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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Source: www.federalpay.org/paycheck-protection-program/jenison-cleaners-inc-jenison-mi