PPP Loan Data — Les'S Flatwork Service, Inc, Alanson, MI
Les'S Flatwork Service, Inc
Entity: Subchapter S Corporation
Location: Alanson, MITweet This • Search All PPP Data
Les'S Flatwork Service, Inc is a subchapter s corporation located at 2293 Edwards Road in Alanson, Michigan that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least six people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:First Community Bank
Les'S Flatwork Service, Inc in Alanson, MI received a Paycheck Protection Loan of $25,000 through First Community Bank, which was approved in April, 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, Les'S Flatwork Service, Inc's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $20,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Les'S Flatwork Service, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,402
- Utilities: $598
Business Information - Les'S Flatwork Service, Inc in Alanson, MI
2293 Edwards Road
Alanson, MI 49706
Poured Concrete Foundation and Structure Contractors
NAICS code 238110
Business Owner Demographics
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: Rural
Similar Companies near Alanson
In the Alanson area, 2 businesses in the "Poured Concrete Foundation and Structure Contractors" industry received a PPP loan. These local businesses reported an average of 6 employees (compared to this company's 6) and received an average PPP loan of $28,783 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Zann Bros Construction Inc
Industry PPP Comparison Statistics
Nationwide, 21,801 businesses in the "Poured Concrete Foundation and Structure Contractors" industry received a total of $3.02B 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 13 employees, 117% higher than Les'S Flatwork Service, Inc's reported 6 employees, and received an average PPP loan of $138,620, 454% higher than this company's loan of $25,000.
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