PPP Loan Data — Magic-Clean LLC, West Jordan, UT
Magic-Clean LLC is a limited liability partnership located at 7872 S. Old Bingham Hwy. in West Jordan, Utah that received a Coronavirus-related PPP loan from the SBA of $47,000.00 in May, 2020.
The company has reported itself as a White male veteran owned business, and employed at least fifteen people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Zions Bank, A Division of
Magic-Clean LLC in West Jordan, UT received a Paycheck Protection Loan of $47,000 through Zions Bank, A Division of, which was approved in May, 2020.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
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, Magic-Clean LLC's 2019 payroll expenses are estimated to be at least $225,600.
Based on their reported 15 jobs retained, this equals an estimated average yearly compensation of $15,040 per employee1
Reported PPP Proceed Usage:
On the PPP application, Magic-Clean LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $47,000
Business Information - Magic-Clean LLC in West Jordan, UT
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
PPP recipients in this industry report an average of 0 employees, 100% lower than Magic-Clean LLC's reported 15 employees, and received an average PPP loan of $0, 100% lower than this company's loan of $47,000.
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Footnotes & Information
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