PPP Loan Data — Jetmaxx Inc, Willoughby, OH
Jetmaxx Inc is a subchapter s corporation located at 4934 Campbell Rd in Willoughby, Ohio that received a Coronavirus-related PPP loan from the SBA of $25,375.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:U.S. Bank, National Association
Jetmaxx Inc in Willoughby, OH received a Paycheck Protection Loan of $25,375 through U.S. Bank, National Association, which was approved in May, 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 January, 2021.
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, Jetmaxx Inc's 2019 payroll expenses are estimated to be at least $121,800.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,600 per employee1
Reported PPP Proceed Usage:
On the PPP application, Jetmaxx Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,375
Business Information - Jetmaxx Inc in Willoughby, OH
4934 Campbell Rd
Willoughby, OH 44094
NAICS code 332710
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Willoughby
In the Willoughby area, 54 businesses in the "Machine Shops" industry received a PPP loan. These local businesses reported an average of 17 employees (compared to this company's 3) and received an average PPP loan of $214,885 (compared to this company's $25,375).
Similar Nearby Businesses Who Received PPP Funding:
Industrial Shaft & MFG Inc
Eastlake Machine Products Company, Inc
Infitech Industries Inc
Quick Turn Machining, LLC
Sonoma Grinding And Machining, Inc
Premier Machine Products Inc
Bowden Manufacturing Corporation
D & D Quality Machining Co. Inc
Langa Tool & Machine, Inc
Industry PPP Comparison Statistics
Nationwide, 16,572 businesses in the "Machine Shops" industry received a total of $2.92B 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 15 employees, 400% higher than Jetmaxx Inc's reported 3 employees, and received an average PPP loan of $176,279, 595% higher than this company's loan of $25,375.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!