PPP Loan Data — M&N Home Remodeling Services LLC, Conyers, GA
M&N Home Remodeling Services LLC is a limited liability company (LLC) located at 698 Lakeridge Drive in Conyers, Georgia that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:JPMorgan Chase Bank, National Association
M&N Home Remodeling Services LLC in Conyers, GA received a Paycheck Protection Loan of $25,000 through JPMorgan Chase Bank, National Association, which was approved in May, 2020.
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, M&N Home Remodeling Services LLC's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, M&N Home Remodeling Services LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $18,000
- Utilities: $4,000
- Rent: $3,000
Business Information - M&N Home Remodeling Services LLC in Conyers, GA
698 Lakeridge Drive
Conyers, GA 30094
NAICS code 236118
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Conyers
In the Conyers area, 141 businesses in the "Residential Remodelers" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 2) and received an average PPP loan of $22,437 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Giovanny A Arroyo Lira
Francisco Calderon Construction
Cabinet & Stone City LLC
Extraordinary Venture LLC
Industry PPP Comparison Statistics
Nationwide, 175,017 businesses in the "Residential Remodelers" industry received a total of $5.32B 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 3 employees, 50% higher than M&N Home Remodeling Services LLC's reported 2 employees, and received an average PPP loan of $30,405, 22% higher than this company's loan of $25,000.
FederalPay's PPP Information Policy
Footnotes & Information
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