PPP Loan Data — Lendingpoint LLC, Kennesaw, GA
Lendingpoint LLC is a limited liability company (LLC) located at 1201 Roberts Blvd in Kennesaw, Georgia that received a Coronavirus-related PPP loan from the SBA of $3,375,000.00 in April, 2020.
$ PPP Loan Information
Lender:BMO HARRIS BANK NATIONAL ASSOCIATION
Lendingpoint LLC in Kennesaw, GA received a Paycheck Protection Loan of $3.38M through BMO HARRIS BANK NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Lendingpoint LLC's total 2019 payroll expenses were approximately $16.2M in order to qualify for the PPP loan amount received.
Based on their reported 190 jobs retained, this equals an estimated average yearly compensation of $85,263 per employee1.
Business Information - Lendingpoint LLC in Kennesaw, GA
1201 Roberts Blvd
Kennesaw, GA 30144
Consumer Lending (NAICS code 522291)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: GA-11
Similar Companies near Kennesaw
In the Kennesaw area, 2 businesses in the "Consumer Lending" industry received a PPP loan. These local businesses reported an average of 96 employees (compared to this company's 190) and received an average PPP loan of $1,693,750 (compared to this company's $3.38M).
Similar Nearby Businesses Who Received PPP Funding:
Alternative Financing Systems, Inc.
Industry PPP Comparison Statistics
Nationwide, 1,653 businesses in the "Consumer Lending" industry received a total of $270,440,458.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 13 employees, 93% lower than Lendingpoint LLC's reported 190 employees, and received an average PPP loan of $163,606, 95% lower than this company's loan of $3.38M.
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, and is published unmodified, as provided by the SBA.
Footnotes & Information
1. 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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