PPP Loan Data — Lightriver Technologies, Inc, Concord, CA
Lightriver Technologies, Inc is a corporation located at 2150 John Glenn Dr Ste 200 in Concord, California that received a Coronavirus-related PPP loan from the SBA of $1,538,900.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Enterprise Bank & Trust
Lightriver Technologies, Inc in Concord, CA received a Paycheck Protection Loan of $1.54M through Enterprise Bank & Trust, 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 January, 2021.
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, Lightriver Technologies, Inc's 2019 payroll expenses are estimated to be at least $7.39M.
Based on their reported 75 jobs retained, this equals an estimated average yearly compensation of $98,490 per employee1
Reported PPP Proceed Usage:
On the PPP application, Lightriver Technologies, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,538,900
Business Information - Lightriver Technologies, Inc in Concord, CA
2150 John Glenn Dr Ste 200
Concord, CA 94520
NAICS code 517911
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Concord
In the Concord area, 2 businesses in the "Telecommunications Resellers" industry received a PPP loan. These local businesses reported an average of 54 employees (compared to this company's 75) and received an average PPP loan of $1,117,750 (compared to this company's $1.54M).
Similar Nearby Businesses Who Received PPP Funding:
Lightriver Software, Inc
Industry PPP Comparison Statistics
Nationwide, 3,030 businesses in the "Telecommunications Resellers" industry received a total of $444.12M 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, 83% lower than Lightriver Technologies, Inc's reported 75 employees, and received an average PPP loan of $146,573, 90% lower than this company's loan of $1.54M.
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Footnotes & Information
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