PPP Loan Data — Naples Rug Washing Company, Naples, FL
Naples Rug Washing Company
Location: Naples, FLTweet This • Search All PPP Data
Naples Rug Washing Company is a corporation located at 3920 Progress Ave Ste 112 in Naples, Florida that received a Coronavirus-related PPP loan from the SBA of $25,095.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bank of America, National Association
Naples Rug Washing Company in Naples, FL received a Paycheck Protection Loan of $25,095 through Bank of America, National Association, 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 April, 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, Naples Rug Washing Company's 2019 payroll expenses are estimated to be at least $120,456.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,152 per employee1
Reported PPP Proceed Usage:
On the PPP application, Naples Rug Washing Company reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,095
Business Information - Naples Rug Washing Company in Naples, FL
3920 Progress Ave Ste 112
Naples, FL 34104
Service Establishment Equipment and Supplies Merchant Wholesalers
NAICS code 423850
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Naples
In the Naples area, 4 businesses in the "Service Establishment Equipment and Supplies Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 6 employees (compared to this company's 3) and received an average PPP loan of $40,300 (compared to this company's $25,095).
Similar Nearby Businesses Who Received PPP Funding:
Commercial Glass And Restaurant Supply, Inc
Industry PPP Comparison Statistics
Nationwide, 4,109 businesses in the "Service Establishment Equipment and Supplies Merchant Wholesalers" industry received a total of $423.68M 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 10 employees, 233% higher than Naples Rug Washing Company's reported 3 employees, and received an average PPP loan of $103,111, 311% higher than this company's loan of $25,095.
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