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PPP Loan Data — Service Sanitation, Inc, Gary, IN

SBA PPP loan data, payroll data, and salaries for Service Sanitation, Inc
IN

Service Sanitation, Inc

Entity: Subchapter S Corporation

Industry: Septic Tank and Related Services

Location: Gary, IN

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Service Sanitation, Inc is a subchapter s corporation located at 135 Blaine St in Gary, Indiana that received a Coronavirus-related PPP loan from the SBA of $3,145,140.00 in April, 2020.

$ PPP Loan Information
Loan #3650677209

Loan Size:

$3.15M

Jobs Retained:

206

Loan Approved:

2020-04-27

Loan Status:

Paid in Full or Forgiven

Lender:

First Midwest Bank

Service Sanitation, Inc in Gary, IN received a Paycheck Protection Loan of $3.15M through First Midwest 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 June, 2021.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

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Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Service Sanitation, Inc's 2019 payroll expenses are estimated to be at least $15.1M.

Based on their reported 206 jobs retained, this equals an estimated average yearly compensation of $73,285 per employee1

Reported PPP Proceed Usage:

On the PPP application, Service Sanitation, Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $3,145,140
Because the loan received by Service Sanitation, Inc is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Service Sanitation, Inc in Gary, IN

Service Sanitation, Inc
135 Blaine St
Gary, IN 46406

Business Industry:
Septic Tank and Related Services
NAICS code 562991

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: Y

Rural / Urban: Urban

Lake County, IN — SBA Office 0562 — Congressional District: IN-01

Industry PPP Comparison Statistics

Nationwide, 3,373 businesses in the "Septic Tank and Related Services" industry received a total of $240.2M 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 8 employees, 96% lower than Service Sanitation, Inc's reported 206 employees, and received an average PPP loan of $71,213, 98% lower than this company's loan of $3.15M.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.

All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

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Footnotes & Information

1. Estimations for informational purposes only. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/service-sanitation-inc-gary-in