PPP Loan Data — Smart Dry Cleaners LLC, Irvington, NJ
Smart Dry Cleaners LLC
Entity: Limited Liability Company (LLC)
Location: Irvington, NJTweet This • Search All PPP Data
Smart Dry Cleaners LLC is a limited liability company (LLC) located at 566 Chancellor Ave in Irvington, New Jersey that received a Coronavirus-related PPP loan from the SBA of $25,197.00 in January, 2021.
The company has reported itself as an Asian female owned business, and employed at least six people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank of America, National Association
Smart Dry Cleaners LLC in Irvington, NJ received a Paycheck Protection Loan of $25,197 through Bank of America, National Association, which was approved in January, 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, Smart Dry Cleaners LLC's 2019 payroll expenses are estimated to be at least $120,946.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $20,158 per employee1
Reported PPP Proceed Usage:
On the PPP application, Smart Dry Cleaners LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,196
- Utilities: $1
Business Information - Smart Dry Cleaners LLC in Irvington, NJ
566 Chancellor Ave
Irvington, NJ 7111
Drycleaning and Laundry Services (except Coin-Operated)
NAICS code 812320
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Irvington
In the Irvington area, 19 businesses in the "Drycleaning and Laundry Services (except Coin-Operated)" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 6) and received an average PPP loan of $14,121 (compared to this company's $25,197).
Similar Nearby Businesses Who Received PPP Funding:
Deluxe Quality Cleaners
Young Pro Inc
NU Sussex Cleaners Inc
JNC Milano LLC
Industry PPP Comparison Statistics
Nationwide, 29,150 businesses in the "Drycleaning and Laundry Services (except Coin-Operated)" industry received a total of $1.13B 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, 17% higher than Smart Dry Cleaners LLC's reported 6 employees, and received an average PPP loan of $38,609, 53% higher than this company's loan of $25,197.
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