PPP Loan Data — Lamg Accounting Financial Services Corp, Ocoee, FL
Lamg Accounting Financial Services Corp is a corporation located at 862 Maguire Rd in Ocoee, Florida that received a Coronavirus-related PPP loan from the SBA of $25,117.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bank of America, National Association
Lamg Accounting Financial Services Corp in Ocoee, FL received a Paycheck Protection Loan of $25,117 through Bank of America, National Association, which was approved in May, 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 February, 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, Lamg Accounting Financial Services Corp's 2019 payroll expenses are estimated to be at least $120,562.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,141 per employee1
Reported PPP Proceed Usage:
On the PPP application, Lamg Accounting Financial Services Corp reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,117
Business Information - Lamg Accounting Financial Services Corp in Ocoee, FL
862 Maguire Rd
Ocoee, FL 34761
Other Accounting Services
NAICS code 541219
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Ocoee
In the Ocoee area, 15 businesses in the "Other Accounting Services" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 4) and received an average PPP loan of $19,748 (compared to this company's $25,117).
Similar Nearby Businesses Who Received PPP Funding:
The Emanuel Rogers Company LLC
Team Connor LLC
Deiger Service Corporation
Capital Tree Accounting Services, LLC
Sue L Prosser LLC
Optimal Financial Centre LLC
Industry PPP Comparison Statistics
Nationwide, 64,443 businesses in the "Other Accounting Services" industry received a total of $2.03B 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 3 employees, 25% lower than Lamg Accounting Financial Services Corp's reported 4 employees, and received an average PPP loan of $31,571, 26% higher than this company's loan of $25,117.
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Footnotes & Information
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