PPP Loan Data — Spotless Auto-Lansing LLC, Lansing, MI
Spotless Auto-Lansing LLC is a corporation located at 130 S Waverly Rd in Lansing, Michigan that received a Coronavirus-related PPP loan from the SBA of $24,987.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:JPMorgan Chase Bank, National Association
Spotless Auto-Lansing LLC in Lansing, MI received a Paycheck Protection Loan of $24,987 through JPMorgan Chase Bank, National Association, which was approved in May, 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, Spotless Auto-Lansing LLC's 2019 payroll expenses are estimated to be at least $119,938.
Based on their reported 10 jobs retained, this equals an estimated average yearly compensation of $11,994 per employee1
Reported PPP Proceed Usage:
On the PPP application, Spotless Auto-Lansing LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $19,990
- Utilities: $4,997
Business Information - Spotless Auto-Lansing LLC in Lansing, MI
130 S Waverly Rd
Lansing, MI 48917
General Automotive Repair
NAICS code 811111
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Lansing
In the Lansing area, 9 businesses in the "General Automotive Repair" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 10) and received an average PPP loan of $43,857 (compared to this company's $24,987).
Similar Nearby Businesses Who Received PPP Funding:
Auto Care Grand Ledge, LLC
Bucks Allrepair Service And Sales LLC
West Side Car Care Inc
Steves Professional Auto Repair
Westside Car Care, Inc
Industry PPP Comparison Statistics
Nationwide, 95,091 businesses in the "General Automotive Repair" industry received a total of $3.94B 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 5 employees, 50% lower than Spotless Auto-Lansing LLC's reported 10 employees, and received an average PPP loan of $41,461, 66% higher than this company's loan of $24,987.
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Footnotes & Information
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