PPP Loan Data — Waterloo Solutions, LLC, Johnson City, TN
Waterloo Solutions, LLC is a limited liability company (LLC) located at 503 E. 8th Ave. in Johnson City, Tennessee that received a Coronavirus-related PPP loan from the SBA of $25,300.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least six people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Waterloo Solutions, LLC in Johnson City, TN received a Paycheck Protection Loan of $25,300 through Renasant Bank, 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, Waterloo Solutions, LLC's 2019 payroll expenses are estimated to be at least $121,440.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $20,240 per employee1
Reported PPP Proceed Usage:
On the PPP application, Waterloo Solutions, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,300
Business Information - Waterloo Solutions, LLC in Johnson City, TN
503 E. 8th Ave.
Johnson City, TN 37601
Marketing Consulting Services
NAICS code 541613
Business Owner Demographics
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Johnson City
In the Johnson City area, 3 businesses in the "Marketing Consulting Services" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 6) and received an average PPP loan of $22,322 (compared to this company's $25,300).
Similar Nearby Businesses Who Received PPP Funding:
Johnson City, TN
Jeremy Tudor LLC
Johnson City, TN
Industry PPP Comparison Statistics
Nationwide, 86,997 businesses in the "Marketing Consulting Services" industry received a total of $3.45B 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, 50% lower than Waterloo Solutions, LLC's reported 6 employees, and received an average PPP loan of $39,652, 57% higher than this company's loan of $25,300.
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Footnotes & Information
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