PPP Loan Data — L.a. Adult Companion Services, LLC, Mint Hill, NC
L.a. Adult Companion Services, LLC is a limited liability company (LLC) located at Ste C1 4614 Wilgrove Mint Hill Rd in Mint Hill, North Carolina 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 female owned business, and employed at least ten people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Cross River Bank
L.a. Adult Companion Services, LLC in Mint Hill, NC received a Paycheck Protection Loan of $25,000 through Cross River Bank, 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.a. Adult Companion Services, LLC's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 10 jobs retained, this equals an estimated average yearly compensation of $12,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, L.a. Adult Companion Services, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - L.a. Adult Companion Services, LLC in Mint Hill, NC
Ste C1 4614 Wilgrove Mint Hill Rd
Mint Hill, NC 28227
Home Health Care Services
NAICS code 621610
Business Owner Demographics
Race: Black or African American
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Non-Veteran
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Mint Hill
In the Mint Hill area, 38 businesses in the "Home Health Care Services" industry received a PPP loan. These local businesses reported an average of 16 employees (compared to this company's 10) and received an average PPP loan of $53,093 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
R - Care Incorporated
United Support Services Inc
Faholo Partners LLC
Mint Hill, NC
L.a. Adult Companion Services
Mint Hill, NC
Prosperous Home Care Services, Phcs,LLC
Mint Hill, NC
Industry PPP Comparison Statistics
Nationwide, 91,996 businesses in the "Home Health Care Services" industry received a total of $7.67B 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 15 employees, 50% higher than L.a. Adult Companion Services, LLC's reported 10 employees, and received an average PPP loan of $83,373, 233% higher than this company's loan of $25,000.
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Footnotes & Information
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