PPP Loan Data — Fortune Strategies, LLC, Southampton, PA
Fortune Strategies, LLC
Entity: Limited Liability Company (LLC)
Location: Southampton, PATweet This • Search All PPP Data
Fortune Strategies, LLC is a limited liability company (LLC) located in Southampton, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $25,360.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Penn Community Bank
Fortune Strategies, LLC in Southampton, PA received a Paycheck Protection Loan of $25,360 through Penn Community Bank, 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.The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 1 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 1. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
Reported PPP Proceed Usage:
On the PPP application, Fortune Strategies, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,360
Business Information - Fortune Strategies, LLC in Southampton, PA
* Full address is redacted to protect the privacy of individuals.
Administrative Management and General Management Consulting Services
NAICS code 541611
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Southampton
In the Southampton area, 13 businesses in the "Administrative Management and General Management Consulting Services" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 1) and received an average PPP loan of $52,083 (compared to this company's $25,360).
Similar Nearby Businesses Who Received PPP Funding:
Marc E. Freed & Associates LTD
Stephen Craig DBA Sec Accounting LLC
Lakeside Medical Center LLC
Kurt J. Schneider Associates
FYD Management And Investments LLC
White Eagle Partners LLC
Industry PPP Comparison Statistics
Nationwide, 94,773 businesses in the "Administrative Management and General Management Consulting Services" industry received a total of $5.51B 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 5 employees, 400% higher than Fortune Strategies, LLC's reported 1 employees, and received an average PPP loan of $58,139, 129% higher than this company's loan of $25,360.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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