PPP Loan Data — Organic Creations LLC, Marion, IL
Organic Creations LLC is a limited liability company (LLC) located at 9340 Johns Ln in Marion, Illinois that received a Coronavirus-related PPP loan from the SBA of $25,331.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:U.S. Bank, National Association
Organic Creations LLC in Marion, IL received a Paycheck Protection Loan of $25,331 through U.S. Bank, 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 February, 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, Organic Creations LLC's 2019 payroll expenses are estimated to be at least $121,589.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,795 per employee1
Reported PPP Proceed Usage:
On the PPP application, Organic Creations LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,331
Business Information - Organic Creations LLC in Marion, IL
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
PPP recipients in this industry report an average of 0 employees, 100% lower than Organic Creations LLC's reported 2 employees, and received an average PPP loan of $0, 100% lower than this company's loan of $25,331.
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Footnotes & Information
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