PPP Loan Data — L & L Assisted Living Community, Inc, Tallahassee, FL
L & L Assisted Living Community, Inc is a corporation located at 4211 Chaires Cross Rd in Tallahassee, Florida that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
The company has reported itself as a Black or african american male owned business, and employed at least three people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:First Commerce CU
L & L Assisted Living Community, Inc in Tallahassee, FL received a Paycheck Protection Loan of $25,000 through First Commerce CU, which was approved in April, 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, L & L Assisted Living Community, Inc's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, L & L Assisted Living Community, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - L & L Assisted Living Community, Inc in Tallahassee, FL
4211 Chaires Cross Rd
Tallahassee, FL 32317
Assisted Living Facilities for the Elderly
NAICS code 623312
Business Owner Demographics
Race: Black or African American
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 10,259 businesses in the "Assisted Living Facilities for the Elderly" industry received a total of $1.84B 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 30 employees, 900% higher than L & L Assisted Living Community, Inc's reported 3 employees, and received an average PPP loan of $179,299, 617% higher than this company's loan of $25,000.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!