PPP Loan Data — Kyles Quality Title, LLC, Florence, AL
Kyles Quality Title, LLC is a limited liability company (LLC) located at 750 County Road 135 in Florence, Alabama that received a Coronavirus-related PPP loan from the SBA of $25,400.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:First Metro Bank
Kyles Quality Title, LLC in Florence, AL received a Paycheck Protection Loan of $25,400 through First Metro 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 March, 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, Kyles Quality Title, LLC's 2019 payroll expenses are estimated to be at least $121,920.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,640 per employee1
Reported PPP Proceed Usage:
On the PPP application, Kyles Quality Title, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $19,050
- Utilities: $2,540
- Mortgage Interest: $3,810
Business Information - Kyles Quality Title, LLC in Florence, AL
750 County Road 135
Florence, AL 35634
Title Abstract and Settlement Offices
NAICS code 541191
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 5,533 businesses in the "Title Abstract and Settlement Offices" industry received a total of $500.83M 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 8 employees, 167% higher than Kyles Quality Title, LLC's reported 3 employees, and received an average PPP loan of $90,517, 256% higher than this company's loan of $25,400.
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Footnotes & Information
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