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PPP Loan Data — Specialized Staffing Solutions LLC, South Bend, IN

SBA PPP loan data, payroll data, and salaries for Specialized Staffing Solutions LLC
IN

Specialized Staffing Solutions LLC

Entity: Limited Liability Company (LLC)

Industry: Temporary Help Services

Location: South Bend, IN

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Specialized Staffing Solutions LLC is a limited liability company (LLC) located at 1001 E Jefferson Blvd. in South Bend, Indiana that received a Coronavirus-related PPP loan from the SBA of $4,000,000.00 in May, 2020.

The company has reported itself as a female owned business, and employed at least 500 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$4M

Jobs Retained:

500

Loan Approved:

2020-05-05

Lender:

1ST SOURCE BANK

Specialized Staffing Solutions LLC in South Bend, IN received a Paycheck Protection Loan of $4M through 1ST SOURCE BANK, which was approved in May, 2020.

Based on standard PPP eligibility rules, Specialized Staffing Solutions LLC's total 2019 payroll expenses were approximately $19.2M in order to qualify for the PPP loan amount received.

Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $38,400 per employee1.

Because the loan received by Specialized Staffing Solutions LLC 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 - Specialized Staffing Solutions LLC in South Bend, IN

Specialized Staffing Solutions LLC
1001 E Jefferson Blvd.
South Bend, IN 46617

Business Industry

Temporary Help Services (NAICS code 561320)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: FEMALE OWNED

Veteran Status: Unreported

Congressional District: IN-02

Industry PPP Comparison Statistics

Nationwide, 4,404 businesses in the "Temporary Help Services" industry received a total of $2,681,304,257.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 1% of the total PPP funding allocated.

PPP recipients in this industry report an average of 61 employees, 88% lower than Specialized Staffing Solutions LLC's reported 500 employees, and received an average PPP loan of $608,834, 85% lower than this company's loan of $4M.

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, and is published unmodified, as provided by the SBA.

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Footnotes & Information

1. 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/specialized-staffing-solutions-llc-south-bend-in