PPP Loan Data — Luke, Johnson & Lewis LLC, Sandy, UT
Luke, Johnson & Lewis LLC is a limited liability company (LLC) located at 870 E 9400 S in Sandy, Utah that received a Coronavirus-related PPP loan from the SBA of $25,177.00 in April, 2020.
The company has reported itself as a Black or african american male owned business, and employed at least two people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:KeyBank National Association
Luke, Johnson & Lewis LLC in Sandy, UT received a Paycheck Protection Loan of $25,177 through KeyBank National Association, 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 February, 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, Luke, Johnson & Lewis LLC's 2019 payroll expenses are estimated to be at least $120,850.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,425 per employee1
Reported PPP Proceed Usage:
On the PPP application, Luke, Johnson & Lewis LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,177
Business Information - Luke, Johnson & Lewis LLC in Sandy, UT
870 E 9400 S
Sandy, UT 84094
NAICS code 561440
Business Owner Demographics
Race: Black or African American
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Sandy
In the Sandy area, 2 businesses in the "Collection Agencies" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 2) and received an average PPP loan of $17,380 (compared to this company's $25,177).
Similar Nearby Businesses Who Received PPP Funding:
Advanced Recovery Service LLC
Industry PPP Comparison Statistics
Nationwide, 2,910 businesses in the "Collection Agencies" industry received a total of $542.19M 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 19 employees, 850% higher than Luke, Johnson & Lewis LLC's reported 2 employees, and received an average PPP loan of $186,320, 640% higher than this company's loan of $25,177.
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Footnotes & Information
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