PPP Loan Data — Headlight Inc, New York, NY
Headlight Inc is a subchapter s corporation located at 149 West 24th Street Store B in New York, New York that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:JPMorgan Chase Bank, National Association
Headlight Inc in New York, NY received a Paycheck Protection Loan of $25,000 through JPMorgan Chase Bank, National Association, which was approved in May, 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, Headlight Inc's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Headlight Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $12,000
- Utilities: $1,000
- Rent: $12,000
Business Information - Headlight Inc in New York, NY
149 West 24th Street Store B
New York, NY 10011
Other Lighting Equipment Manufacturing
NAICS code 335129
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near New York
In the New York area, 2 businesses in the "Other Lighting Equipment Manufacturing" 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 $20,218 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
New York, NY
Industry PPP Comparison Statistics
Nationwide, 769 businesses in the "Other Lighting Equipment Manufacturing" industry received a total of $124.53M 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 14 employees, 600% higher than Headlight Inc's reported 2 employees, and received an average PPP loan of $161,933, 548% higher than this company's loan of $25,000.
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Footnotes & Information
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