PPP Loan Data — Lady Of Laundry, Goose Creek, SC
Lady Of Laundry
Entity: Limited Liability Company (LLC)
Location: Goose Creek, SCTweet This • Search All PPP Data
Lady Of Laundry is a limited liability company (LLC) located at 309 in Goose Creek, South Carolina that received a Coronavirus-related PPP loan from the SBA of $45,878.00 in January, 2021.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Itria Ventures LLC
Lady Of Laundry in Goose Creek, SC received a Paycheck Protection Loan of $45,878 through Itria Ventures LLC, which was approved in January, 2021.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 2. 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, Lady Of Laundry's 2019 payroll expenses are estimated to be at least $220,214 (not accounting for salary amounts > $100k).
Because the 2 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, Lady Of Laundry reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $45,876
- Utilities: $1
Business Information - Lady Of Laundry in Goose Creek, SC
Goose Creek, SC 29445
Drycleaning and Laundry Services (except Coin-Operated)
NAICS code 812320
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Goose Creek
In the Goose Creek area, 4 businesses in the "Drycleaning and Laundry Services (except Coin-Operated)" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 2) and received an average PPP loan of $21,429 (compared to this company's $45,878).
Similar Nearby Businesses Who Received PPP Funding:
David G Lewis
Goose Creek, SC
Tommy's Cleaners LLC
Goose Creek, SC
Industry PPP Comparison Statistics
Nationwide, 29,150 businesses in the "Drycleaning and Laundry Services (except Coin-Operated)" industry received a total of $1.13B 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 7 employees, 250% higher than Lady Of Laundry's reported 2 employees, and received an average PPP loan of $38,609, 16% lower than this company's loan of $45,878.
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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