PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

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

ALERT: There are 2 PPP loans for a total of $5.58M in our database for businesses with the name "American Crafts L.c" in Lindon, UT. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

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

American Crafts L.c

Entity: Corporation

Industry: Other Miscellaneous Durable Goods Merchant Wholesalers

Location: Lindon, UT

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American Crafts L.c is a corporation located at 588 W 400 S Ste 300 in Lindon, Utah that received a Coronavirus-related PPP loan from the SBA of $1,975,000.00 in April, 2021.

$ PPP Loan Information
Loan #1629718810

Loan Size:

$1.98M

Jobs Retained:

283

Loan Approved:

2021-04-10

Loan Status:

Ongoing Loan

Lender:

KeyBank National Association

American Crafts L.c in Lindon, UT received a Paycheck Protection Loan of $1.98M through KeyBank National Association, which was approved in April, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, American Crafts L.c's 2019 payroll expenses are estimated to be at least $9.48M.

Based on their reported 283 jobs retained, this equals an estimated average yearly compensation of $33,498 per employee1

Reported PPP Proceed Usage:

On the PPP application, American Crafts L.c reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,974,999
  • Utilities: $1

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

American Crafts L.c
588 W 400 S Ste 300
Lindon, UT 84042

Business Industry:
Other Miscellaneous Durable Goods Merchant Wholesalers
NAICS code 423990

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Utah County, UT — SBA Office 0883 — Congressional District: UT-03

Similar Companies near Lindon

In the Lindon area, 21 businesses in the "Other Miscellaneous Durable Goods Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 23 employees (compared to this company's 283) and received an average PPP loan of $171,126 (compared to this company's $1.98M).

Industry PPP Comparison Statistics

Nationwide, 25,925 businesses in the "Other Miscellaneous Durable Goods Merchant Wholesalers" industry received a total of $1.97B 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 7 employees, 98% lower than American Crafts L.c's reported 283 employees, and received an average PPP loan of $76,016, 96% lower than this company's loan of $1.98M.

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

Search All PPP Data

American Crafts, L.c is a corporation located at 588 West 400 South Ste 300 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 #5386307104

Loan Size:

$3.61M

Jobs Retained:

236

Loan Approved:

2020-04-13

Loan Status:

Paid in Full or Forgiven

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.

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. The loan's status was last updated by the SBA in July, 2021.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, American Crafts, L.c's 2019 payroll expenses are estimated to be at least $17.32M.

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

Reported PPP Proceed Usage:

On the PPP application, American Crafts, L.c reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $3,607,300
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 Ste 300
Lindon, UT 84042

Business Industry:
Toy and Hobby Goods and Supplies Merchant Wholesalers
NAICS code 423920

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Utah County, UT — SBA Office 0883 — Congressional District: UT-03

Industry PPP Comparison Statistics

Nationwide, 2,805 businesses in the "Toy and Hobby Goods and Supplies Merchant Wholesalers" industry received a total of $264.93M 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, 96% lower than American Crafts, L.c's reported 236 employees, and received an average PPP loan of $94,448, 97% 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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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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Source: www.federalpay.org/paycheck-protection-program/american-crafts-lc-lindon-ut