LANDSCAPE CONTRACTOR AND DESIGNERS LLC
PPP Loan approved Apr 16, 2020 through Banco Popular de Puerto Rico
Borrower Information
Business Details
Lender Information
Self-Reported Demographics
How Proceeds Were Used
| Category | Amount | % of Total Proceeds |
|---|---|---|
| Payroll | $619,000.00 | 96.7% |
| Utilities | $17,500.00 | 2.7% |
| Mortgage Interest | $3,500.00 | 0.5% |
About This Loan
LANDSCAPE CONTRACTOR AND DESIGNERS LLC received a PPP loan of $640,000 approved on Apr 16, 2020. The loan was originated by Banco Popular de Puerto Rico.
LANDSCAPE CONTRACTOR AND DESIGNERS LLC is a limited liability company(llc) located in TOA BAJA, Puerto Rico. At the time of the application, the business was described as "existing or more than 2 years old".
The business operates in the Services to Buildings and Dwellings industry (NAICS 561730), part of the Administrative and Support and Waste Management sector of the economy. The applicant reported 171 jobs as retained through this loan.
The SBA forgave $645,671.11 of this loan — 100.9% of the total approved amount, with forgiveness recorded on Mar 5, 2021. This means the borrower was not required to repay this portion, having satisfied the PPP's eligibility criteria for forgiveness, including maintaining payroll levels and using the funds for qualified expenses.
According to the SBA's records, the proceeds of this loan were allocated as follows: $619,000 to payroll, $17,500 to utilities, $3,500 to mortgage interest. The payroll component represents 96.7% of disclosed proceeds, consistent with the program's requirement that at least 60% of loan funds be used for payroll costs to qualify for full forgiveness.
This loan is one of millions approved nationwide during the COVID-19 pandemic. To explore other recipients in Puerto Rico, visit the Puerto Rico page. To compare this loan with others in the same industry, see the Services to Buildings and Dwellings industry page.