PPP Loan Data — Marathon Cc LLC, Racine, WI
Marathon Cc LLC is a limited liability company (LLC) located at 2301 Lathrop Ave in Racine, Wisconsin that received a Coronavirus-related PPP loan from the SBA of $47,000.00 in April, 2020.
The company has reported itself as a White female owned business, and employed at least eight people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Community State Bank
Marathon Cc LLC in Racine, WI received a Paycheck Protection Loan of $47,000 through Community State Bank, 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 January, 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, Marathon Cc LLC's 2019 payroll expenses are estimated to be at least $225,600.
Based on their reported 8 jobs retained, this equals an estimated average yearly compensation of $28,200 per employee1
Reported PPP Proceed Usage:
On the PPP application, Marathon Cc LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $42,700
- Utilities: $300
- Mortgage Interest: $1,500
- Rent: $2,500
Business Information - Marathon Cc LLC in Racine, WI
2301 Lathrop Ave
Racine, WI 53405
Carpet and Upholstery Cleaning Services
NAICS code 561740
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Racine
In the Racine area, 8 businesses in the "Carpet and Upholstery Cleaning Services" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 8) and received an average PPP loan of $20,536 (compared to this company's $47,000).
Similar Nearby Businesses Who Received PPP Funding:
Castle Carpet Cleaning, LLC
J&V Steam Carpet Cleaning LLC
Clean & Fresh Restoration Inc
Industry PPP Comparison Statistics
Nationwide, 26,933 businesses in the "Carpet and Upholstery Cleaning Services" industry received a total of $681.26M 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 3 employees, 63% lower than Marathon Cc LLC's reported 8 employees, and received an average PPP loan of $25,295, 46% lower than this company's loan of $47,000.
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Footnotes & Information
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