PPP Loan Data — LG Kendrick, LLC, Gallup, NM
LG Kendrick, LLC
Entity: Limited Liability Company (LLC)
Location: Gallup, NMTweet This • Search All PPP Data
LG Kendrick, LLC is a limited liability company (LLC) located at 2418 E Historic Highway 66 in Gallup, New Mexico that received a Coronavirus-related PPP loan from the SBA of $24,932.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank of America, National Association
LG Kendrick, LLC in Gallup, NM received a Paycheck Protection Loan of $24,932 through Bank of America, National Association, which was approved in May, 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, LG Kendrick, LLC's 2019 payroll expenses are estimated to be at least $119,674.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $23,935 per employee1
Reported PPP Proceed Usage:
On the PPP application, LG Kendrick, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,932
Business Information - LG Kendrick, LLC in Gallup, NM
2418 E Historic Highway 66
Gallup, NM 87301
Other Business Service Centers (including Copy Shops)
NAICS code 561439
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 5,635 businesses in the "Other Business Service Centers (including Copy Shops)" industry received a total of $221.26M 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 LG Kendrick, LLC's reported 5 employees, and received an average PPP loan of $39,265, 57% higher than this company's loan of $24,932.
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Footnotes & Information
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