PPP Loan Data — Swan City Title Company, LLC, Lakeland, FL
Swan City Title Company, LLC is a limited liability company (LLC) located at 100 S Kentucky Ave Suite 218 in Lakeland, Florida that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:BankUnited, National Association
Swan City Title Company, LLC in Lakeland, FL received a Paycheck Protection Loan of $25,000 through BankUnited, 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, Swan City Title Company, LLC's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Swan City Title Company, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Swan City Title Company, LLC in Lakeland, FL
100 S Kentucky Ave Suite 218
Lakeland, FL 33801
Title Abstract and Settlement Offices
NAICS code 541191
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Lakeland
In the Lakeland area, 4 businesses in the "Title Abstract and Settlement Offices" industry received a PPP loan. These local businesses reported an average of 8 employees (compared to this company's 3) and received an average PPP loan of $67,301 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Golden Rule Title, LLC
Easy Title Company LLC
Advantage Title Services, Inc
Industry PPP Comparison Statistics
Nationwide, 5,533 businesses in the "Title Abstract and Settlement Offices" industry received a total of $500.83M 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 8 employees, 167% higher than Swan City Title Company, LLC's reported 3 employees, and received an average PPP loan of $90,517, 262% higher than this company's loan of $25,000.
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Footnotes & Information
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