PPP Loan Data — Iluminar Inc, Sugar Land, TX
Iluminar Inc is a corporation located at Unit#1003 16107 Kensington Dr in Sugar Land, Texas that received a Coronavirus-related PPP loan from the SBA of $24,979.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank of America, National Association
Iluminar Inc in Sugar Land, TX received a Paycheck Protection Loan of $24,979 through Bank of America, 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, Iluminar Inc's 2019 payroll expenses are estimated to be at least $119,899.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $59,950 per employee1
Reported PPP Proceed Usage:
On the PPP application, Iluminar Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,979
Business Information - Iluminar Inc in Sugar Land, TX
Unit#1003 16107 Kensington Dr
Sugar Land, TX 77479
Small Electrical Appliance Manufacturing
NAICS code 335210
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 467 businesses in the "Small Electrical Appliance Manufacturing" industry received a total of $49.62M 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 11 employees, 450% higher than Iluminar Inc's reported 2 employees, and received an average PPP loan of $106,255, 325% higher than this company's loan of $24,979.
FederalPay's PPP Information Policy
Footnotes & Information
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