PPP Loan Data — Norfolk Landscaping LLC, Norfolk, VA
Norfolk Landscaping LLC is a limited liability company (LLC) located at 1004 W 26th St in Norfolk, Virginia that received a Coronavirus-related PPP loan from the SBA of $24,900.00 in April, 2020.
The company has reported itself as a White female owned business, and employed at least six people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Southern Bank and Trust Company
Norfolk Landscaping LLC in Norfolk, VA received a Paycheck Protection Loan of $24,900 through Southern Bank and Trust Company, 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 March, 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, Norfolk Landscaping LLC's 2019 payroll expenses are estimated to be at least $119,520.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $19,920 per employee1
Reported PPP Proceed Usage:
On the PPP application, Norfolk Landscaping LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,900
Business Information - Norfolk Landscaping LLC in Norfolk, VA
1004 W 26th St
Norfolk, VA 23517
NAICS code 561730
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Norfolk
In the Norfolk area, 15 businesses in the "Landscaping Services" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 6) and received an average PPP loan of $25,349 (compared to this company's $24,900).
Similar Nearby Businesses Who Received PPP Funding:
The Barringer Virginia Corp
Wright Stuff Lawn Service LLC
Curtis D Johnson
Garden By Oz Inc
Industry PPP Comparison Statistics
Nationwide, 138,585 businesses in the "Landscaping Services" industry received a total of $6.03B 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 5 employees, 17% lower than Norfolk Landscaping LLC's reported 6 employees, and received an average PPP loan of $43,486, 75% higher than this company's loan of $24,900.
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Footnotes & Information
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