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#LIGHTSMITH PD5702 FULL#

This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.

The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 8 jobs reported as retained on the PPP application 3. The loan's status was last updated by the SBA in October, 2021. 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. Lightsmith, Inc in New York, NY received a Paycheck Protection Loan of $177,892 through Manufacturers and Traders Trust Company, which was approved in April, 2020. On the PPP application, Lightsmith Inc reported intending to use the proceeds of their PPP loan for the following expenses:īusiness Information - Lightsmith Inc in New York, NY In order to qualify for the PPP loan amount received, Lightsmith Inc's 2019 payroll expenses are estimated to be at least $937,056.īased on their reported 11 jobs retained, this equals an estimated average yearly compensation of $85,187 per employee 1 Reported PPP Proceed Usage:

Please Note: Information on estimated payroll and compensation based on PPP rules is provided for informational purposes only.īased 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).

#LIGHTSMITH PD5702 FULL#

Additionally, because this standard calculation is based on the maximum loan eligibility, it will under-estimate payroll costs if the business did not apply for the full amount of loan to which it was entitled based on its 2019 payroll expenses and other variables described above.

Because salaries for PPP eligibility purposes are capped at $100k, businesses with highly-compensated employees will yield an under-estimation of actual payroll costs.

This estimation assumes that the PPP recipient applied for the full amount for which they were eligible, and no other variables affected the loan amount received. Situations may exist in which it may not be accurate to estimate a PPP recipient's payroll expenses based on the amount of PPP loan received.

SES - Senior Executive Service Pay Calculatorįor Lightsmith Inc, the calculation used to estimate payroll costs is shown below:.

FWS - Federal Wage System Pay Calculator.