PPP Loan Data — Smooth Solutions LLC, Elkhorn, NE
Smooth Solutions LLC is a limited liability company (LLC) located at 1405 South 204th Street in Elkhorn, Nebraska that received a Coronavirus-related PPP loan from the SBA of $46,000.00 in April, 2020. This business is a Waxing the City franchise.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:First State Bank
Smooth Solutions LLC in Elkhorn, NE received a Paycheck Protection Loan of $46,000 through First State 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 December, 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, Smooth Solutions LLC's 2019 payroll expenses are estimated to be at least $220,800.
Based on their reported 10 jobs retained, this equals an estimated average yearly compensation of $22,080 per employee1
Reported PPP Proceed Usage:
On the PPP application, Smooth Solutions LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,000
Business Information - Smooth Solutions LLC in Elkhorn, NE
1405 South 204th Street
Elkhorn, NE 68022
Other Personal Care Services
NAICS code 812199
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Elkhorn
In the Elkhorn area, 2 businesses in the "Other Personal Care Services" industry received a PPP loan. These local businesses reported an average of 6 employees (compared to this company's 10) and received an average PPP loan of $31,854 (compared to this company's $46,000).
Similar Nearby Businesses Who Received PPP Funding:
Industry PPP Comparison Statistics
Nationwide, 76,411 businesses in the "Other Personal Care Services" industry received a total of $1.78B 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 3 employees, 70% lower than Smooth Solutions LLC's reported 10 employees, and received an average PPP loan of $23,334, 49% lower than this company's loan of $46,000.
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Footnotes & Information
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