PPP Loan Data — Personal Touch Dry Cleaning LLC, Bradenton, FL
Personal Touch Dry Cleaning LLC is a limited liability company (LLC) located at 1516 Florida Blvd in Bradenton, Florida that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.
The company has reported itself as an Asian owned business, and employed at least twelve people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank of America, National Association
Personal Touch Dry Cleaning LLC in Bradenton, FL received a Paycheck Protection Loan of $25,000 through Bank of America, 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, Personal Touch Dry Cleaning LLC's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 12 jobs retained, this equals an estimated average yearly compensation of $10,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Personal Touch Dry Cleaning LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Personal Touch Dry Cleaning LLC in Bradenton, FL
1516 Florida Blvd
Bradenton, FL 34207
Appliance Repair and Maintenance
NAICS code 811412
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Bradenton
In the Bradenton area, 3 businesses in the "Appliance Repair and Maintenance" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 12) and received an average PPP loan of $10,086 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
29 Palms Tattoo
Industry PPP Comparison Statistics
Nationwide, 9,602 businesses in the "Appliance Repair and Maintenance" industry received a total of $368.97M 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 5 employees, 58% lower than Personal Touch Dry Cleaning LLC's reported 12 employees, and received an average PPP loan of $38,427, 54% higher than this company's loan of $25,000.
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