PPP Loan Data — Key Homesellers, Inc, Kent, WA
Key Homesellers, Inc is a subchapter s corporation located at 21610 Se 297th Terrace in Kent, Washington that received a Coronavirus-related PPP loan from the SBA of $24,967.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:KeyBank National Association
Key Homesellers, Inc in Kent, WA received a Paycheck Protection Loan of $24,967 through KeyBank National Association, which was approved in April, 2020.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 1. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
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, Key Homesellers, Inc's 2019 payroll expenses are estimated to be at least $119,842 (not accounting for salary amounts > $100k).
Because the 1 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, Key Homesellers, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,967
Business Information - Key Homesellers, Inc in Kent, WA
21610 Se 297th Terrace
Kent, WA 98042
Residential Property Managers
NAICS code 531311
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Kent
In the Kent area, 3 businesses in the "Residential Property Managers" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 1) and received an average PPP loan of $40,021 (compared to this company's $24,967).
Similar Nearby Businesses Who Received PPP Funding:
Mcclellan-Ring Company LLC
Mountlake Terrace, WA
SYC Realty Inc
Industry PPP Comparison Statistics
Nationwide, 36,628 businesses in the "Residential Property Managers" industry received a total of $3.05B 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 9 employees, 800% higher than Key Homesellers, Inc's reported 1 employees, and received an average PPP loan of $83,394, 234% higher than this company's loan of $24,967.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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