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PPP Loan Data — Elite Lighting Corp,
Commerce, CA
Elite Lighting Corp
Entity: Corporation
Industry: Commercial, Industrial, and Institutional Electric Lighting Fixture Manufacturing
Location: Commerce, CA
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Elite Lighting Corp is a corporation located at 5424 E. Slauson Ave in Commerce, California that received a Coronavirus-related PPP loan from the SBA of $2,770,800.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
215Loan Approved:
2020-04-15Lender:
BANK OF HOPEElite Lighting Corp in Commerce, CA received a Paycheck Protection Loan of $2.77M through BANK OF HOPE, which was approved in April, 2020.
Based on standard PPP eligibility rules, Elite Lighting Corp's total 2019 payroll expenses were approximately $13.3M in order to qualify for the PPP loan amount received.
Based on their reported 215 jobs retained, this equals an estimated average yearly compensation of $61,860 per employee1.
Business Information - Elite Lighting Corp in Commerce, CA
5424 E. Slauson Ave
Commerce, CA 90040
Business Industry
Commercial, Industrial, and Institutional Electric Lighting Fixture Manufacturing (NAICS code 335122)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: CA-40Similar Companies near Commerce
In the Commerce area, 3 businesses in the "Commercial, Industrial, and Institutional Electric Lighting Fixture Manufacturing" industry received a PPP loan. These local businesses reported an average of 83 employees (compared to this company's 215) and received an average PPP loan of $1,309,436 (compared to this company's $2.77M).
Similar Nearby Businesses Who Received PPP Funding:
Hospitality Works, LLC
Los Angeles, CA
Michael Sabouni
Commerce, CA
Industry PPP Comparison Statistics
Nationwide, 688 businesses in the "Commercial, Industrial, and Institutional Electric Lighting Fixture Manufacturing" industry received a total of $189,320,355.00 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 20 employees, 91% lower than Elite Lighting Corp's reported 215 employees, and received an average PPP loan of $275,175, 90% lower than this company's loan of $2.77M.
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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