PPP Loan Data — Lamont Smith, Alhambra, CA
Entity: Sole Proprietorship
Location: Alhambra, CATweet This • Search All PPP Data
Lamont Smith is a sole proprietorship located at 400 La Paloma Avenue in Alhambra, California that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in June, 2020.
The company has reported itself as a male owned business, and employed at least three people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lamont Smith in Alhambra, CA received a Paycheck Protection Loan of $25,000 through Customers Bank, which was approved in June, 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, Lamont Smith's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Lamont Smith reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Lamont Smith in Alhambra, CA
400 La Paloma Avenue
Alhambra, CA 91801
All Other Miscellaneous Store Retailers (except Tobacco Stores)
NAICS code 453998
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 Alhambra
In the Alhambra area, 35 businesses in the "All Other Miscellaneous Store Retailers (except Tobacco Stores)" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 3) and received an average PPP loan of $21,729 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Art In Flowers
Healthy Pharmacy Inc
Miniso Depot Alhambra LLC
Alhambra Super Market, Inc
Everything Medical Inc
Industry PPP Comparison Statistics
Nationwide, 152,436 businesses in the "All Other Miscellaneous Store Retailers (except Tobacco Stores)" industry received a total of $5.23B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 4 employees, 33% higher than Lamont Smith's reported 3 employees, and received an average PPP loan of $34,329, 37% higher than this company's loan of $25,000.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!