PPP Loan Data — Turf Wizards LLC, Apex, NC
Turf Wizards LLC is a limited liability company (LLC) located at 3133 Olive Chapel Road in Apex, North Carolina that received a Coronavirus-related PPP loan from the SBA of $25,165.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Celtic Bank Corporation
Turf Wizards LLC in Apex, NC received a Paycheck Protection Loan of $25,165 through Celtic Bank Corporation, which was approved in May, 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, Turf Wizards LLC's 2019 payroll expenses are estimated to be at least $120,792.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,264 per employee1
Reported PPP Proceed Usage:
On the PPP application, Turf Wizards LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,165
Business Information - Turf Wizards LLC in Apex, NC
3133 Olive Chapel Road
Apex, NC 27502
NAICS code 561730
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Apex
In the Apex area, 23 businesses in the "Landscaping Services" industry received a PPP loan. These local businesses reported an average of 13 employees (compared to this company's 3) and received an average PPP loan of $87,195 (compared to this company's $25,165).
Similar Nearby Businesses Who Received PPP Funding:
Corporate Impressions Landscapes Inc
Gray Landscaping Inc
Southern Grounds Control Inc
Parker's Landscape Services, Inc
1ST Choice Maintenance, Inc
Johnson Tree Experts LLC
Falcon Lawn Care
Will DO Lawn Care, LLC
Industry PPP Comparison Statistics
Nationwide, 138,585 businesses in the "Landscaping Services" industry received a total of $6.03B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 5 employees, 67% higher than Turf Wizards LLC's reported 3 employees, and received an average PPP loan of $43,486, 73% higher than this company's loan of $25,165.
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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
Footnotes & Information
1. Estimations for informational purposes only. 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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