PPP Loan Data — Polished Solution Inc, Sarasota, FL
Polished Solution Inc is a subchapter s corporation located at 8121 Uzita Dr Ste 101 in Sarasota, Florida that received a Coronavirus-related PPP loan from the SBA of $36,175.00 in January, 2021.
The company has reported itself as a male owned business, and employed at least six people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Sabal Palm Bank
Polished Solution Inc in Sarasota, FL received a Paycheck Protection Loan of $36,175 through Sabal Palm Bank, which was approved in January, 2021.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA. The loan's status was last updated by the SBA in November, -0001.
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, Polished Solution Inc's 2019 payroll expenses are estimated to be at least $173,640.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $28,940 per employee1
Reported PPP Proceed Usage:
On the PPP application, Polished Solution Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $36,174
- Utilities: $1
Business Information - Polished Solution Inc in Sarasota, FL
8121 Uzita Dr Ste 101
Sarasota, FL 34240
All Other Specialty Trade Contractors
NAICS code 238990
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Sarasota
In the Sarasota area, 37 businesses in the "All Other Specialty Trade Contractors" industry received a PPP loan. These local businesses reported an average of 9 employees (compared to this company's 6) and received an average PPP loan of $89,277 (compared to this company's $36,175).
Similar Nearby Businesses Who Received PPP Funding:
Elite-Weiler Pools Inc
Jack's Crane Service, Inc
Ocean Builders Of SW Florida, Inc
New Tech Construction
1ST Rate Service USA LLC
Distinctive Surfaces Of Florida Inc
Blanton Plumbing Inc
SCC Services LLC
Frank Berlin Crane Service LLC
Industry PPP Comparison Statistics
Nationwide, 93,400 businesses in the "All Other Specialty Trade Contractors" industry received a total of $8.04B 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 8 employees, 33% higher than Polished Solution Inc's reported 6 employees, and received an average PPP loan of $86,076, 138% higher than this company's loan of $36,175.
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Footnotes & Information
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