PPP Loan Data — Event Solutions Group, Lindon, UT
Event Solutions Group
Entity: Sole Proprietorship
Location: Lindon, UTTweet This • Search All PPP Data
Event Solutions Group is a sole proprietorship located at 945 East 110 South in Lindon, Utah that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least four people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Event Solutions Group in Lindon, UT received a Paycheck Protection Loan of $25,000 through Customers Bank, which was approved in April, 2020.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
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, Event Solutions Group's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Event Solutions Group reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Event Solutions Group in Lindon, UT
945 East 110 South
Lindon, UT 84042
All Other Miscellaneous Store Retailers (except Tobacco Stores)
NAICS code 453998
Business Owner Demographics
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Lindon
In the Lindon area, 56 businesses in the "All Other Miscellaneous Store Retailers (except Tobacco Stores)" industry received a PPP loan. These local businesses reported an average of 9 employees (compared to this company's 4) and received an average PPP loan of $63,846 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
K And J Fur Farm
Brandon Burk Photography LLC
Mago Supply LLC
Precision Editing Group LLC
Intermountain Soft Water Inc
Extreme Fabrication & Repair Inc
Lashes Direct LLC
Snoopy Enterprises LLC
Industry PPP Comparison Statistics
Nationwide, 152,436 businesses in the "All Other Miscellaneous Store Retailers (except Tobacco Stores)" industry received a total of $5.23B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 4 employees, the same amount reported by Event Solutions Group and received an average PPP loan of $34,329, 37% higher than this company's loan of $25,000.
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Footnotes & Information
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