PPP Loan Data — Todd Ofslager Accounting And Tax Services Inc, Midlothian, VA
Todd Ofslager Accounting And Tax Services Inc is a non-profit organization located at 11718 Heathmere Crescent in Midlothian, Virginia that received a Coronavirus-related PPP loan from the SBA of $25,100.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Truist Bank d/b/a Branch Banking & Trust Co
Todd Ofslager Accounting And Tax Services Inc in Midlothian, VA received a Paycheck Protection Loan of $25,100 through Truist Bank d/b/a Branch Banking & Trust Co, 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 April, 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, Todd Ofslager Accounting And Tax Services Inc's 2019 payroll expenses are estimated to be at least $120,480.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $24,096 per employee1
Reported PPP Proceed Usage:
On the PPP application, Todd Ofslager Accounting And Tax Services Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,100
Business Information - Todd Ofslager Accounting And Tax Services Inc in Midlothian, VA
11718 Heathmere Crescent
Midlothian, VA 23113
Other Accounting Services
NAICS code 541219
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Midlothian
In the Midlothian area, 16 businesses in the "Other Accounting Services" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 5) and received an average PPP loan of $19,254 (compared to this company's $25,100).
Similar Nearby Businesses Who Received PPP Funding:
Steven R Moran & Associates PLLC
Anchor Accounting Services LLC
Lori R Jacocks
Gregg & Associates, LLC
Crystal Shannon Kay
Industry PPP Comparison Statistics
Nationwide, 64,443 businesses in the "Other Accounting Services" industry received a total of $2.03B 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, 40% lower than Todd Ofslager Accounting And Tax Services Inc's reported 5 employees, and received an average PPP loan of $31,571, 26% higher than this company's loan of $25,100.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!