PPP Loan Data — L And S Cleaning Service, Cordova, TN
L And S Cleaning Service is a sole proprietorship located in Cordova, Tennessee that received a Coronavirus-related PPP loan from the SBA of $25,500.00 in May, 2020.
The company has reported itself as an American indian or alaska native female owned business, and employed at least one person during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
L And S Cleaning Service in Cordova, TN received a Paycheck Protection Loan of $25,500 through Regions Bank, which was approved in May, 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.
Reported PPP Proceed Usage:
On the PPP application, L And S Cleaning Service reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,500
Business Information - L And S Cleaning Service in Cordova, TN
* Full address is redacted to protect the privacy of individuals.
NAICS code 561720
Business Owner Demographics
Race: American Indian or Alaska Native
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Cordova
In the Cordova area, 96 businesses in the "Janitorial Services" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 1) and received an average PPP loan of $17,064 (compared to this company's $25,500).
Similar Nearby Businesses Who Received PPP Funding:
Lmea Limited Partners LLC
Kameka S Roberson
Industry PPP Comparison Statistics
Nationwide, 146,067 businesses in the "Janitorial Services" industry received a total of $4.43B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 5 employees, 400% higher than L And S Cleaning Service's reported 1 employees, and received an average PPP loan of $30,311, 19% higher than this company's loan of $25,500.
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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