FederalPay.org
PPP Loan Data — Londons Cleaning Service Inc,
Newtown Square, PA
Londons Cleaning Service Inc
Entity: Limited Liability Company (LLC)
Industry: Janitorial Services
Location: Newtown Square, PA
Tweet This
•
Search All PPP Data
Londons Cleaning Service Inc is a limited liability company (LLC) located at 18 Campus Blvd Suite 100 in Newtown Square, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $15,385.00 in June, 2020.
The company has reported itself as a Black or african american male owned business, and employed at least five people during the applicable loan loan period.
$
PPP Loan Information
Loan #5998418001
Loan Size:
Jobs Retained:
5Loan Approved:
2020-06-29Loan Status:
Paid in Full or ForgivenLender:
Quontic BankLondons Cleaning Service Inc in Newtown Square, PA received a Paycheck Protection Loan of $15,385 through Quontic Bank, which was approved in June, 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 October, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Londons Cleaning Service Inc's 2019 payroll expenses are estimated to be at least $73,848.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $14,770 per employee1
Reported PPP Proceed Usage:
On the PPP application, Londons Cleaning Service Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $15,385
Business Information - Londons Cleaning Service Inc in Newtown Square, PA
18 Campus Blvd Suite 100
Newtown Square, PA 19073
Business Industry:
Janitorial Services
NAICS code 561720
Business Owner Demographics
Race: Black or African American
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age:
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Businesses Using Same Address:
There are 4 other businesses that received a PPP loan registered to the same address as Londons Cleaning Service Inc.
Wonderfulcleaning LLC
Janitorial Services
DND Investments
Other Foundation, Structure, and Building Exterior Contractors
House Call Medical Services, PC
Offices of Lawyers
Aortic Nurses Staffing Agency LLC
Temporary Help Services
Similar Companies near Newtown Square
In the Newtown Square area, 8 businesses in the "Janitorial Services" industry received a PPP loan. These local businesses reported an average of 130 employees (compared to this company's 5) and received an average PPP loan of $1,527,173 (compared to this company's $15,385).
Similar Nearby Businesses Who Received PPP Funding:
Arinay Property Services, LLC
Newtown Square, PA
Xanitos, Inc
Newtown Square, PA
Kortan General Maintenance Inc
Newtown Square, PA
Professional Building Services, Inc
Newtown Square, PA
Wonderfulcleaning LLC
Newtown Square, PA
Industry PPP Comparison Statistics
Nationwide, 138,593 businesses in the "Janitorial Services" industry received a total of $4.29B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 5 employees, the same amount reported by Londons Cleaning Service Inc and received an average PPP loan of $30,982, 101% higher than this company's loan of $15,385.
FederalPay's PPP Information Policy
Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.
All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
Footnotes & Information
1. Estimations for informational purposes only. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.
2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.
Have FederalPay.org's open data tools been valuable? Consider donating!