PPP Loan Data — Shine Medical Technologies LLC, Janesville, WI
Shine Medical Technologies LLC is a limited liability company (LLC) located at Milwaukee St in Janesville, Wisconsin that received a Coronavirus-related PPP loan from the SBA of $1,964,600.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Shine Medical Technologies LLC in Janesville, WI received a Paycheck Protection Loan of $1.96M through Johnson 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 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, Shine Medical Technologies LLC's 2019 payroll expenses are estimated to be at least $9.43M.
Based on their reported 115 jobs retained, this equals an estimated average yearly compensation of $82,001 per employee1
Reported PPP Proceed Usage:
On the PPP application, Shine Medical Technologies LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,473,450
- Utilities: $245,575
- Rent: $245,575
Business Information - Shine Medical Technologies LLC in Janesville, WI
Janesville, WI 53545
Other Basic Inorganic Chemical Manufacturing
NAICS code 325180
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, 471 businesses in the "Other Basic Inorganic Chemical Manufacturing" industry received a total of $150.04M 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 24 employees, 79% lower than Shine Medical Technologies LLC's reported 115 employees, and received an average PPP loan of $318,563, 84% lower than this company's loan of $1.96M.
FederalPay's PPP Information Policy
Footnotes & Information
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