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PPP Loan Data — American Crafts, L.C., Lindon, UT

SBA PPP loan data, payroll data, and salaries for American Crafts, L.C.
UT

American Crafts, L.C.

Entity: Corporation

Industry: Toy and Hobby Goods and Supplies Merchant Wholesalers

Location: Lindon, UT

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American Crafts, L.C. is a corporation located at 588 West 400 South in Lindon, Utah that received a Coronavirus-related PPP loan from the SBA of $3,607,300.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.61M

Jobs Retained:

236

Loan Approved:

2020-04-13

Lender:

KEYBANK NATIONAL ASSOCIATION

American Crafts, L.C. in Lindon, UT received a Paycheck Protection Loan of $3.61M through KEYBANK NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, American Crafts, L.C.'s total 2019 payroll expenses were approximately $17.32M in order to qualify for the PPP loan amount received.

Based on their reported 236 jobs retained, this equals an estimated average yearly compensation of $73,369 per employee1.

Because the loan received by American Crafts, L.C. is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - American Crafts, L.C. in Lindon, UT

American Crafts, L.C.
588 West 400 South
Lindon, UT 84042

Business Industry

Toy and Hobby Goods and Supplies Merchant Wholesalers (NAICS code 423920)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: UT-03

Industry PPP Comparison Statistics

Nationwide, 1,343 businesses in the "Toy and Hobby Goods and Supplies Merchant Wholesalers" industry received a total of $191,253,915.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 12 employees, 95% lower than American Crafts, L.C.'s reported 236 employees, and received an average PPP loan of $142,408, 96% lower than this company's loan of $3.61M.

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, and is published unmodified, as provided by the SBA.

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Footnotes & Information

1. 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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/american-crafts-lc-lindon-ut