PPP Loan Data — Reliance Services Inc DBA The Electric Broom, Amarillo, TX
Reliance Services Inc DBA The Electric Broom is a subchapter s corporation located at 7404 Columbus in Amarillo, Texas that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Cross River Bank
Reliance Services Inc DBA The Electric Broom in Amarillo, TX received a Paycheck Protection Loan of $25,000 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, Reliance Services Inc DBA The Electric Broom's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 11 jobs retained, this equals an estimated average yearly compensation of $10,909 per employee1
Reported PPP Proceed Usage:
On the PPP application, Reliance Services Inc DBA The Electric Broom reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Reliance Services Inc DBA The Electric Broom in Amarillo, TX
Amarillo, TX 79118
NAICS code 561720
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Amarillo
In the Amarillo area, 6 businesses in the "Janitorial Services" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 11) and received an average PPP loan of $14,620 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
JO Beth Latimer Cleaning
Arvernas Cleaning Service
JO Beth Latimer
Amarillo Cleaning Service Incorporated
Industry PPP Comparison Statistics
Nationwide, 146,067 businesses in the "Janitorial Services" industry received a total of $4.43B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 5 employees, 55% lower than Reliance Services Inc DBA The Electric Broom's reported 11 employees, and received an average PPP loan of $30,311, 21% higher than this company's loan of $25,000.
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Footnotes & Information
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