PPP Loan Data — Prosoco, Inc, Lawrence, KS
Entity: Subchapter S Corporation
Location: Lawrence, KSTweet This • Search All PPP Data
Prosoco, Inc is a subchapter s corporation located at 3741 Greenway Cir in Lawrence, Kansas that received a Coronavirus-related PPP loan from the SBA of $1,898,117.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:U.S. Bank, National Association
Prosoco, Inc in Lawrence, KS received a Paycheck Protection Loan of $1.9M through U.S. Bank, National Association, which was approved in April, 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 May, 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, Prosoco, Inc's 2019 payroll expenses are estimated to be at least $9.11M.
Based on their reported 111 jobs retained, this equals an estimated average yearly compensation of $82,081 per employee1
Reported PPP Proceed Usage:
On the PPP application, Prosoco, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,898,117
Business Information - Prosoco, Inc in Lawrence, KS
3741 Greenway Cir
Lawrence, KS 66046
All Other Miscellaneous Chemical Product and Preparation Manufacturing
NAICS code 325998
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 1,857 businesses in the "All Other Miscellaneous Chemical Product and Preparation Manufacturing" industry received a total of $411.09M 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 18 employees, 84% lower than Prosoco, Inc's reported 111 employees, and received an average PPP loan of $221,373, 88% lower than this company's loan of $1.9M.
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Footnotes & Information
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