PPP Loan Data — Fast Stack Development, Albuquerque, NM
Fast Stack Development is a limited liability company (LLC) located at 6800 Los Prados Rd Nw in Albuquerque, New Mexico that received a Coronavirus-related PPP loan from the SBA of $25,033.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Wells Fargo Bank, National Association
Fast Stack Development in Albuquerque, NM received a Paycheck Protection Loan of $25,033 through Wells Fargo Bank, National Association, which was approved in May, 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 April, 2021.
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, Fast Stack Development's 2019 payroll expenses are estimated to be at least $120,158.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,079 per employee1
Reported PPP Proceed Usage:
On the PPP application, Fast Stack Development reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,033
Business Information - Fast Stack Development in Albuquerque, NM
6800 Los Prados Rd Nw
Albuquerque, NM 87114
NAICS code 237210
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Albuquerque
In the Albuquerque area, 3 businesses in the "Land Subdivision" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 2) and received an average PPP loan of $27,085 (compared to this company's $25,033).
Similar Nearby Businesses Who Received PPP Funding:
Garrett Group Inc
Retail Southwest Development LLC
Industry PPP Comparison Statistics
Nationwide, 4,596 businesses in the "Land Subdivision" industry received a total of $468.09M 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 10 employees, 400% higher than Fast Stack Development's reported 2 employees, and received an average PPP loan of $101,846, 307% higher than this company's loan of $25,033.
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Footnotes & Information
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