PPP Loan Data — Eighth Light Holdings, Inc., Chicago, IL
Eighth Light Holdings, Inc. is a corporation located at 25 East Washington Street Suite 509 in Chicago, Illinois that received a Coronavirus-related PPP loan from the SBA of $2,557,900.00 in April, 2020.
$ PPP Loan Information
Eighth Light Holdings, Inc. in Chicago, IL received a Paycheck Protection Loan of $2.56M through BYLINE BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Eighth Light Holdings, Inc.'s total 2019 payroll expenses were approximately $12.28M in order to qualify for the PPP loan amount received.
Based on their reported 139 jobs retained, this equals an estimated average yearly compensation of $88,330 per employee1.
Business Information - Eighth Light Holdings, Inc. in Chicago, IL
25 East Washington Street Suite 509
Chicago, IL 60602
Custom Computer Programming Services (NAICS code 541511)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: IL-07
Similar Companies near Chicago
In the Chicago area, 28 businesses in the "Custom Computer Programming Services" industry received a PPP loan. These local businesses reported an average of 19 employees (compared to this company's 139) and received an average PPP loan of $342,533 (compared to this company's $2.56M).
Similar Nearby Businesses Who Received PPP Funding:
Distributed Software Development
Iron Galaxy Orlando LLC
SRV Network, Inc.
Taylor Made Software Inc
Industry PPP Comparison Statistics
Nationwide, 24,641 businesses in the "Custom Computer Programming Services" industry received a total of $4,943,790,485.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 11 employees, 92% lower than Eighth Light Holdings, Inc.'s reported 139 employees, and received an average PPP loan of $200,633, 92% lower than this company's loan of $2.56M.
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.
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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