PPP Loan Data — JMJ Talent Solutions, Inc, Highland, IN
JMJ Talent Solutions, Inc is a corporation located at 2646 Highway Ave in Highland, Indiana that received a Coronavirus-related PPP loan from the SBA of $2,241,500.00 in July, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Fifth Third Bank
JMJ Talent Solutions, Inc in Highland, IN received a Paycheck Protection Loan of $2.24M through Fifth Third Bank, which was approved in July, 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, JMJ Talent Solutions, Inc's 2019 payroll expenses are estimated to be at least $10.76M.
Based on their reported 370 jobs retained, this equals an estimated average yearly compensation of $29,079 per employee1
Reported PPP Proceed Usage:
On the PPP application, JMJ Talent Solutions, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,241,500
Business Information - JMJ Talent Solutions, Inc in Highland, IN
2646 Highway Ave
Highland, IN 46322
Employment Placement Agencies
NAICS code 561311
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Highland
In the Highland area, 7 businesses in the "Employment Placement Agencies" industry received a PPP loan. These local businesses reported an average of 111 employees (compared to this company's 370) and received an average PPP loan of $447,233 (compared to this company's $2.24M).
Similar Nearby Businesses Who Received PPP Funding:
Hospitality Service Group
Colin Mckenize Consulting
Brand Nu Staffing LLC
Global Employment Services Inc
JMJ Personnel, Inc
Industry PPP Comparison Statistics
Nationwide, 12,601 businesses in the "Employment Placement Agencies" industry received a total of $3.48B 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 35 employees, 91% lower than JMJ Talent Solutions, Inc's reported 370 employees, and received an average PPP loan of $275,915, 88% lower than this company's loan of $2.24M.
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Footnotes & Information
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