PPP Loan Data — ION Solar LLC, Provo, UT
ION Solar LLC
Entity: Limited Liability Company (LLC)
Location: Provo, UTTweet This • Search All PPP Data
ION Solar LLC is a limited liability company (LLC) located at 4801 University Ave Suite 900 in Provo, Utah that received a Coronavirus-related PPP loan from the SBA of $1,999,502.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 337 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank of the West
ION Solar LLC in Provo, UT received a Paycheck Protection Loan of $2M through Bank of the West, 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, ION Solar LLC's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 337 jobs retained, this equals an estimated average yearly compensation of $28,480 per employee1
Reported PPP Proceed Usage:
On the PPP application, ION Solar LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,502
Business Information - ION Solar LLC in Provo, UT
4801 University Ave Suite 900
Provo, UT 84604
Plumbing, Heating, and Air-Conditioning Contractors
NAICS code 238220
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 Provo
In the Provo area, 3 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a PPP loan. These local businesses reported an average of 116 employees (compared to this company's 337) and received an average PPP loan of $684,134 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
MG Bowie LLC
Industry PPP Comparison Statistics
Nationwide, 105,811 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a total of $13.07B 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, 97% lower than ION Solar LLC's reported 337 employees, and received an average PPP loan of $123,520, 94% lower than this company's loan of $2M.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!