PPP Loan Data — Staffinders Inc, Independence, OH
Staffinders Inc is a sole proprietorship located at 4807 Rockside Rd,ste 370 in Independence, Ohio that received a Coronavirus-related PPP loan from the SBA of $2,308,300.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:PNC Bank, National Association
Staffinders Inc in Independence, OH received a Paycheck Protection Loan of $2.31M through PNC Bank, National Association, which was approved in April, 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, Staffinders Inc's 2019 payroll expenses are estimated to be at least $11.08M.
Based on their reported 402 jobs retained, this equals an estimated average yearly compensation of $27,562 per employee1
Reported PPP Proceed Usage:
On the PPP application, Staffinders Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,308,300
Business Information - Staffinders Inc in Independence, OH
4807 Rockside Rd,ste 370
Independence, OH 44131
Temporary Help Services
NAICS code 561320
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Independence
In the Independence area, 12 businesses in the "Temporary Help Services" industry received a PPP loan. These local businesses reported an average of 124 employees (compared to this company's 402) and received an average PPP loan of $859,806 (compared to this company's $2.31M).
Similar Nearby Businesses Who Received PPP Funding:
Floyd Jones LLC
Middleburg Hts, OH
Strong Service Inc
Columbus Staffing Service Inc
Area Temps Inc
Staffing Service Inc
Western Services Inc
Travelers Alliance Group LLC
Industry PPP Comparison Statistics
Nationwide, 8,994 businesses in the "Temporary Help Services" industry received a total of $3.65B 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 51 employees, 87% lower than Staffinders Inc's reported 402 employees, and received an average PPP loan of $405,841, 82% lower than this company's loan of $2.31M.
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Footnotes & Information
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