PPP Loan Data — Majestik Appliance Service, Inc, Homestead, FL
Majestik Appliance Service, Inc is a subchapter s corporation located at 16012 Southwest 284th Street in Homestead, Florida that received a Coronavirus-related PPP loan from the SBA of $45,892.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Celtic Bank Corporation
Majestik Appliance Service, Inc in Homestead, FL received a Paycheck Protection Loan of $45,892 through Celtic Bank Corporation, which was approved in May, 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 May, 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, Majestik Appliance Service, Inc's 2019 payroll expenses are estimated to be at least $220,282.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $36,714 per employee1
Reported PPP Proceed Usage:
On the PPP application, Majestik Appliance Service, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $34,419
- Utilities: $11,473
Business Information - Majestik Appliance Service, Inc in Homestead, FL
16012 Southwest 284th Street
Homestead, FL 33033
All Other Personal Services
NAICS code 812990
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Homestead
In the Homestead area, 378 businesses in the "All Other Personal Services" industry received a PPP loan. These local businesses reported an average of 1 employees (compared to this company's 6) and received an average PPP loan of $20,854 (compared to this company's $45,892).
Similar Nearby Businesses Who Received PPP Funding:
Omara Barbara Guerra Gonzalez
Industry PPP Comparison Statistics
Nationwide, 237,729 businesses in the "All Other Personal Services" industry received a total of $5.63B in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 3 employees, 50% lower than Majestik Appliance Service, Inc's reported 6 employees, and received an average PPP loan of $23,676, 48% lower than this company's loan of $45,892.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!