PPP Loan Data — Property Improvement Specialists Inc, Kirtland, OH
Property Improvement Specialists Inc is a subchapter s corporation located at 10663 Angela Dr in Kirtland, Ohio that received a Coronavirus-related PPP loan from the SBA of $25,032.00 in January, 2021.
The company has reported itself as a White male owned business, and employed at least two people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:The Huntington National Bank
Property Improvement Specialists Inc in Kirtland, OH received a Paycheck Protection Loan of $25,032 through The Huntington National Bank, which was approved in January, 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, Property Improvement Specialists Inc's 2019 payroll expenses are estimated to be at least $120,154.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,077 per employee1
Reported PPP Proceed Usage:
On the PPP application, Property Improvement Specialists Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,032
Business Information - Property Improvement Specialists Inc in Kirtland, OH
10663 Angela Dr
Kirtland, OH 44094
Nonresidential Property Managers
NAICS code 531312
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 11,970 businesses in the "Nonresidential Property Managers" industry received a total of $1.22B 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 9 employees, 350% higher than Property Improvement Specialists Inc's reported 2 employees, and received an average PPP loan of $101,557, 306% higher than this company's loan of $25,032.
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Footnotes & Information
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