PPP Loan Data — Legacy Tax Center, Jax, FL
Legacy Tax Center is a self-employed individual located at 6316 San Juan Ave Suite 10 in Jax, Florida that received a Coronavirus-related PPP loan from the SBA of $45,791.00 in June, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Cross River Bank
Legacy Tax Center in Jax, FL received a Paycheck Protection Loan of $45,791 through Cross River Bank, which was approved in June, 2020.
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, Legacy Tax Center's 2019 payroll expenses are estimated to be at least $219,797.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $54,949 per employee1
Reported PPP Proceed Usage:
On the PPP application, Legacy Tax Center reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $45,791
Business Information - Legacy Tax Center in Jax, FL
6316 San Juan Ave Suite 10
Jax, FL 32210
Tax Preparation Services
NAICS code 541213
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Jax
In the Jax area, 24 businesses in the "Tax Preparation Services" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 4) and received an average PPP loan of $17,594 (compared to this company's $45,791).
Similar Nearby Businesses Who Received PPP Funding:
EJ Family Tax Services LLC
Alicia Gabree Accounting And Tax Service
Browns Solutions LLC
Industry PPP Comparison Statistics
Nationwide, 50,853 businesses in the "Tax Preparation Services" industry received a total of $1.1B 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 Legacy Tax Center's reported 4 employees, and received an average PPP loan of $21,684, 53% lower than this company's loan of $45,791.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!