PPP Loan Data — Ready Locksmith LLC, Goose Creek, SC
Ready Locksmith LLC is a limited liability company (LLC) located in Goose Creek, South Carolina that received a Coronavirus-related PPP loan from the SBA of $24,900.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Ready Locksmith LLC in Goose Creek, SC received a Paycheck Protection Loan of $24,900 through Navy FCU, which was approved in April, 2020.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 1. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
Reported PPP Proceed Usage:
On the PPP application, Ready Locksmith LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,900
Business Information - Ready Locksmith LLC in Goose Creek, SC
Goose Creek, SC
* Full address is redacted to protect the privacy of individuals.
NAICS code 561622
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Goose Creek
In the Goose Creek area, 2 businesses in the "Locksmiths" industry received a PPP loan. These local businesses reported an average of 1 employees (compared to this company's 1) and received an average PPP loan of $16,527 (compared to this company's $24,900).
Similar Nearby Businesses Who Received PPP Funding:
Palmetto Lock And Key LLC
Goose Creek, SC
Industry PPP Comparison Statistics
Nationwide, 4,295 businesses in the "Locksmiths" industry received a total of $177.18M 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, 400% higher than Ready Locksmith LLC's reported 1 employees, and received an average PPP loan of $41,253, 66% higher than this company's loan of $24,900.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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