PPP Loan Data — Lovelace Painting Inc, Bozeman, MT
Lovelace Painting Inc is a subchapter s corporation located at 328 Hanley Ave in Bozeman, Montana that received a Coronavirus-related PPP loan from the SBA of $46,303.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least four people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bank of Bozeman
Lovelace Painting Inc in Bozeman, MT received a Paycheck Protection Loan of $46,303 through Bank of Bozeman, which was approved in April, 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 March, 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, Lovelace Painting Inc's 2019 payroll expenses are estimated to be at least $222,254.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $55,564 per employee1
Reported PPP Proceed Usage:
On the PPP application, Lovelace Painting Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,303
Business Information - Lovelace Painting Inc in Bozeman, MT
328 Hanley Ave
Bozeman, MT 59718
Painting and Wall Covering Contractors
NAICS code 238320
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Bozeman
In the Bozeman area, 26 businesses in the "Painting and Wall Covering Contractors" 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 $35,346 (compared to this company's $46,303).
Similar Nearby Businesses Who Received PPP Funding:
Northern Rockies Painting LLC
Whole Art Inc
Airhart Brothers Castle Painting, Inc
Colter Delin LLC
Montana Paint, Inc
Lobo Painting And Drywall
Industry PPP Comparison Statistics
Nationwide, 50,571 businesses in the "Painting and Wall Covering Contractors" industry received a total of $2.46B 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 5 employees, 25% higher than Lovelace Painting Inc's reported 4 employees, and received an average PPP loan of $48,668, 5% higher than this company's loan of $46,303.
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Footnotes & Information
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