PPP Loan Data — Yoiley's Floor Creation LLC, Brooklyn, NY
Yoiley's Floor Creation LLC is a limited liability company (LLC) located at 5308 13th Avenue 554 in Brooklyn, New York that received a Coronavirus-related PPP loan from the SBA of $24,925.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:JPMorgan Chase Bank, National Association
Yoiley's Floor Creation LLC in Brooklyn, NY received a Paycheck Protection Loan of $24,925 through JPMorgan Chase Bank, National Association, 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, Yoiley's Floor Creation LLC's 2019 payroll expenses are estimated to be at least $119,640.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $59,820 per employee1
Reported PPP Proceed Usage:
On the PPP application, Yoiley's Floor Creation LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $20,925
- Rent: $4,000
Business Information - Yoiley's Floor Creation LLC in Brooklyn, NY
5308 13th Avenue 554
Brooklyn, NY 11219
Floor Covering Stores
NAICS code 442210
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Brooklyn
In the Brooklyn area, 6 businesses in the "Floor Covering Stores" industry received a PPP loan. These local businesses reported an average of 11 employees (compared to this company's 2) and received an average PPP loan of $62,810 (compared to this company's $24,925).
Similar Nearby Businesses Who Received PPP Funding:
Boro Rug & Carpet Warehouse
Carpet One Installations LLC
Boro Rug And Carpet Warehouse
Industry PPP Comparison Statistics
Nationwide, 8,871 businesses in the "Floor Covering Stores" industry received a total of $765.8M 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 9 employees, 350% higher than Yoiley's Floor Creation LLC's reported 2 employees, and received an average PPP loan of $86,327, 246% higher than this company's loan of $24,925.
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Footnotes & Information
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