PPP Loan Data — LG Princeton LLC, East Boston/ma, MA
LG Princeton LLC is a limited liability company (LLC) located in East Boston/ma, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least one person during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
LG Princeton LLC in East Boston/ma, MA received a Paycheck Protection Loan of $25,000 through Eastern Bank, 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 May, 2021.The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 1 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 1. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
Reported PPP Proceed Usage:
On the PPP application, LG Princeton LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - LG Princeton LLC in East Boston/ma, MA
East Boston/ma, MA
* Full address is redacted to protect the privacy of individuals.
NAICS code 236118
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: New Business or 2 years or less
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near East Boston/ma
In the East Boston/ma area, 32 businesses in the "Residential Remodelers" industry received a PPP loan. These local businesses reported an average of 6 employees (compared to this company's 1) and received an average PPP loan of $75,131 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Legee Construction LLC
East Boston, MA
East Boston, MA
Ochoa Landscaping And Masonry Design Corporation
Pomeroy & Co Inc
ABS Contracting Inc
Starboard Construction LLC
South Boston, MA
Catamount Builders, Inc
Industry PPP Comparison Statistics
Nationwide, 175,017 businesses in the "Residential Remodelers" industry received a total of $5.32B 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 3 employees, 200% higher than LG Princeton LLC's reported 1 employees, and received an average PPP loan of $30,405, 22% higher than this company's loan of $25,000.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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