PPP Loan Data — Safe Wash Solutions, Covington, LA
Safe Wash Solutions is a corporation located at 35 Mistletoe Dr in Covington, Louisiana that received a Coronavirus-related PPP loan from the SBA of $46,677.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Hancock Whitney Bank
Safe Wash Solutions in Covington, LA received a Paycheck Protection Loan of $46,677 through Hancock Whitney Bank, 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 February, 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, Safe Wash Solutions' 2019 payroll expenses are estimated to be at least $224,050.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $74,683 per employee1
Reported PPP Proceed Usage:
On the PPP application, Safe Wash Solutions reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,677
Business Information - Safe Wash Solutions in Covington, LA
35 Mistletoe Dr
Covington, LA 70433
Other Services to Buildings and Dwellings
NAICS code 561790
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Covington
In the Covington area, 9 businesses in the "Other Services to Buildings and Dwellings" industry received a PPP loan. These local businesses reported an average of 8 employees (compared to this company's 3) and received an average PPP loan of $81,633 (compared to this company's $46,677).
Similar Nearby Businesses Who Received PPP Funding:
Pinky's Cleaning Service
A-Pro Services, LLC
All Clear Pools, LLC
AEM Professional Services LLC
Bright Light Cleaning LLC
Responsive Service And Maintenance Co
Responsive Service & Maintenance Company
Ethan's Roof & Exterior Washing Inc
Industry PPP Comparison Statistics
Nationwide, 25,135 businesses in the "Other Services to Buildings and Dwellings" industry received a total of $1.14B 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 7 employees, 133% higher than Safe Wash Solutions' reported 3 employees, and received an average PPP loan of $45,205, 3% lower than this company's loan of $46,677.
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Footnotes & Information
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