PPP Loan Data — Phyllis' Tax & Bookkeeping Service, Inc, Rockwood, MI
Phyllis' Tax & Bookkeeping Service, Inc is a subchapter s corporation located at 18115 Streicher Rd in Rockwood, Michigan that received a Coronavirus-related PPP loan from the SBA of $25,297.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Cross River Bank
Phyllis' Tax & Bookkeeping Service, Inc in Rockwood, MI received a Paycheck Protection Loan of $25,297 through Cross River Bank, 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, Phyllis' Tax & Bookkeeping Service, Inc's 2019 payroll expenses are estimated to be at least $121,426.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $24,285 per employee1
Reported PPP Proceed Usage:
On the PPP application, Phyllis' Tax & Bookkeeping Service, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,297
Business Information - Phyllis' Tax & Bookkeeping Service, Inc in Rockwood, MI
18115 Streicher Rd
Rockwood, MI 48173
Other Accounting Services
NAICS code 541219
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Rockwood
In the Rockwood area, 10 businesses in the "Other Accounting Services" industry received a PPP loan. These local businesses reported an average of 1 employees (compared to this company's 5) and received an average PPP loan of $16,511 (compared to this company's $25,297).
Similar Nearby Businesses Who Received PPP Funding:
Sidney Fisher Rucker
Industry PPP Comparison Statistics
Nationwide, 64,443 businesses in the "Other Accounting Services" industry received a total of $2.03B 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 3 employees, 40% lower than Phyllis' Tax & Bookkeeping Service, Inc's reported 5 employees, and received an average PPP loan of $31,571, 25% higher than this company's loan of $25,297.
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Footnotes & Information
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