PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Letter Ride LLC, San Diego, CA

SBA PPP loan data, payroll data, and salaries for Letter Ride LLC
CA

Letter Ride LLC

Entity: Limited Liability Company (LLC)

Industry: Couriers and Express Delivery Services

Location: San Diego, CA

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Letter Ride LLC is a limited liability company (LLC) located at 6120 Business Center Court in San Diego, California that received a Coronavirus-related PPP loan from the SBA of $5,044,773.00 in May, 2020.

$ PPP Loan Information

Loan Size:

$5.04M

Jobs Retained:

0 Unreported

Loan Approved:

2020-05-01

Lender:

WELLS FARGO BANK, NATIONAL ASSOCIATION

Letter Ride LLC in San Diego, CA received a Paycheck Protection Loan of $5.04M through WELLS FARGO BANK, NATIONAL ASSOCIATION, which was approved in May, 2020.

Based on standard PPP eligibility rules, Letter Ride LLC's total 2019 payroll expenses were approximately $24.21M in order to qualify for the PPP loan amount received.

Unlike most businesses, Letter Ride LLC's PPP data does not report the number of jobs retained by their receipt of the Paycheck Protection Loan (some banks did not release this infomation from their loan applications). Without this data, per-employee payrolls for this company cannot be estimated.

Because the loan received by Letter Ride LLC is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Letter Ride LLC in San Diego, CA

Letter Ride LLC
6120 Business Center Court
San Diego, CA 92154

Business Industry

Couriers and Express Delivery Services (NAICS code 492110)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: CA-51

Industry PPP Comparison Statistics

Nationwide, 5,089 businesses in the "Couriers and Express Delivery Services" industry received a total of $466,737,431.00 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 11 employees, and received an average PPP loan of $91,715, 98% lower than this company's loan of $5.04M.

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.

Search FederalPay's Full PPP Loan Database

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/letter-ride-llc-san-diego-ca