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PPP Loan Data — Legacy Esports Inc,
Chicago, IL
Legacy Esports Inc
Entity: Corporation
Industry: Software Publishers
Location: Chicago, IL
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Legacy Esports Inc is a corporation located at 50 E Washington St Ste 510 in Chicago, Illinois that received a Coronavirus-related PPP loan from the SBA of $66,144.00 in February, 2021.
$
PPP Loan Information
Loan #3097578410
Loan Size:
Jobs Retained:
39Loan Approved:
2021-02-04Loan Status:
Paid in Full or ForgivenLender:
Beverly Bank & Trust Company, National AssociationLegacy Esports Inc in Chicago, IL received a Paycheck Protection Loan of $66,144 through Beverly Bank & Trust Company, National Association, which was approved in February, 2021.
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 January, 2022.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Legacy Esports Inc's 2019 payroll expenses are estimated to be at least $317,491.
Based on their reported 39 jobs retained, this equals an estimated average yearly compensation of $8,141 per employee1
Reported PPP Proceed Usage:
On the PPP application, Legacy Esports Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $66,139
- Utilities: $1
Business Information - Legacy Esports Inc in Chicago, IL
50 E Washington St Ste 510
Chicago, IL 60602
Business Industry:
Software Publishers
NAICS code 511210
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Businesses Using Same Address:
There are 2 other businesses that received a PPP loan registered to the same address as Legacy Esports Inc.
Phoenix Sports Partners LLC
Miscellaneous Intermediation
Wexford Capital Partners LLC
Miscellaneous Intermediation
Similar Companies near Chicago
In the Chicago area, 28 businesses in the "Software Publishers" industry received a PPP loan. These local businesses reported an average of 44 employees (compared to this company's 39) and received an average PPP loan of $750,267 (compared to this company's $66,144).
Similar Nearby Businesses Who Received PPP Funding:
Lextegrity, Inc
Chicago, IL
Review Trackers, Inc
Chicago, IL
Simmachines, Inc
Chicago, IL
High Definition Vehicle Insurance, Inc
Chicago, IL
Groove Health Inc
Chicago, IL
Mediafly, Inc
Chicago, IL
Capsim Management Simulations Inc
Chicago, IL
Citybase, Inc
Chicago, IL
Engagement Multiplier LLC
Chicago, IL
Industry PPP Comparison Statistics
Nationwide, 13,334 businesses in the "Software Publishers" industry received a total of $2.73B 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 13 employees, 67% lower than Legacy Esports Inc's reported 39 employees, and received an average PPP loan of $204,573, 209% higher than this company's loan of $66,144.
Legacy Esports Inc
Entity: Corporation
Industry: Promoters of Performing Arts, Sports, and Similar Events without Facilities
Location: Chicago, IL
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Legacy Esports Inc is a corporation located at 50 E Washington St 510 in Chicago, Illinois that received a Coronavirus-related PPP loan from the SBA of $79,760.00 in April, 2020.
$
PPP Loan Information
Loan #9445057002
Loan Size:
Jobs Retained:
5Loan Approved:
2020-04-09Loan Status:
Paid in Full or ForgivenLender:
Beverly Bank & Trust Company, National AssociationLegacy Esports Inc in Chicago, IL received a Paycheck Protection Loan of $79,760 through Beverly Bank & Trust Company, National Association, which was approved in April, 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 March, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Legacy Esports Inc's 2019 payroll expenses are estimated to be at least $382,848.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $76,570 per employee1
Reported PPP Proceed Usage:
On the PPP application, Legacy Esports Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $59,820
- Mortgage Interest: $19,940
Business Information - Legacy Esports Inc in Chicago, IL
50 E Washington St 510
Chicago, IL 60602
Business Industry:
Promoters of Performing Arts, Sports, and Similar Events without Facilities
NAICS code 711320
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: New Business or 2 years or less
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Chicago
In the Chicago area, 12 businesses in the "Promoters of Performing Arts, Sports, and Similar Events without Facilities" industry received a PPP loan. These local businesses reported an average of 31 employees (compared to this company's 5) and received an average PPP loan of $472,889 (compared to this company's $79,760).
Similar Nearby Businesses Who Received PPP Funding:
Two Live Promo
Chicago, IL
William Fisher
Chicago, IL
Intersport Inc
Chicago, IL
Innovation Arts & Entertainment, Ltddba Theatre Council Pro
Chicago, IL
Chicago Is Inc
Chicago, IL
Spartan Ventures LLC
Chicago, IL
Best Events Management LLC
Chicago, IL
Innovation Arts & Entertainment
Chicago, IL
Industry PPP Comparison Statistics
Nationwide, 13,899 businesses in the "Promoters of Performing Arts, Sports, and Similar Events without Facilities" industry received a total of $514.74M 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 4 employees, 20% lower than Legacy Esports Inc's reported 5 employees, and received an average PPP loan of $37,035, 54% lower than this company's loan of $79,760.
FederalPay's PPP Information Policy
Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.
All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
Footnotes & Information
1. Estimations for informational purposes only. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.
2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.
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