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PPP Loan Data — Brightstar Wireless Inc,
Brigham City, UT
Brightstar Wireless Inc
Entity: Subchapter S Corporation
Industry: Telecommunications Resellers
Location: Brigham City, UT
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Brightstar Wireless Inc is a subchapter s corporation located at 695 S Main St Ste 1 in Brigham City, Utah that received a Coronavirus-related PPP loan from the SBA of $102,386.00 in April, 2021.
$
PPP Loan Information
Loan #7066848806
Loan Size:
Jobs Retained:
6Loan Approved:
2021-04-21Loan Status:
Ongoing LoanLender:
Zions Bank, A Division ofBrightstar Wireless Inc in Brigham City, UT received a Paycheck Protection Loan of $102,386 through Zions Bank, A Division of, 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 MoreUnderstanding 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 MoreBased 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, Brightstar Wireless Inc's 2019 payroll expenses are estimated to be at least $491,453.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $81,909 per employee1
Reported PPP Proceed Usage:
On the PPP application, Brightstar Wireless Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $102,383
- Utilities: $1
Business Information - Brightstar Wireless Inc in Brigham City, UT
695 S Main St Ste 1
Brigham City, UT 84302
Business Industry:
Telecommunications Resellers
NAICS code 517911
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: Rural
Businesses Using Same Address:
There is one other business that received a PPP loan registered to the same address as Brightstar Wireless Inc.
Brightstar Leasing, LLC
Other Commercial and Industrial Machinery and Equipment Rental and Leasing
Industry PPP Comparison Statistics
Nationwide, 2,972 businesses in the "Telecommunications Resellers" industry received a total of $443.03M 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 13 employees, 117% higher than Brightstar Wireless Inc's reported 6 employees, and received an average PPP loan of $149,067, 46% higher than this company's loan of $102,386.
Brightstar Wireless, Inc
Entity: Subchapter S Corporation
Industry: Telecommunications Resellers
Location: Brigham City, UT
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Brightstar Wireless, Inc is a subchapter s corporation located at 888 S Main St Ste 101 in Brigham City, Utah that received a Coronavirus-related PPP loan from the SBA of $4,458,600.00 in April, 2020.
$
PPP Loan Information
Loan #5745627109
Loan Size:
Jobs Retained:
500Loan Approved:
2020-04-14Loan Status:
Paid in Full or ForgivenLender:
Zions Bank, A Division ofBrightstar Wireless, Inc in Brigham City, UT received a Paycheck Protection Loan of $4.46M through Zions Bank, A Division of, 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 June, 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 MoreUnderstanding 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 MoreBased 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, Brightstar Wireless, Inc's 2019 payroll expenses are estimated to be at least $21.4M.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $42,803 per employee1
Reported PPP Proceed Usage:
On the PPP application, Brightstar Wireless, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $4,458,600
Business Information - Brightstar Wireless, Inc in Brigham City, UT
888 S Main St Ste 101
Brigham City, UT 84302
Business Industry:
Telecommunications Resellers
NAICS code 517911
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: Y
HUBZone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 2,972 businesses in the "Telecommunications Resellers" industry received a total of $443.03M 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 13 employees, 97% lower than Brightstar Wireless, Inc's reported 500 employees, and received an average PPP loan of $149,067, 97% lower than this company's loan of $4.46M.
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.
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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