PPP Loan Data — Promontory Development, LLC, Phoenix,, AZ
Promontory Development, LLC is a limited liability company (LLC) located at 3200 E. Camelback Rd. Suite 295 0.0 in Phoenix,, Arizona that received a Coronavirus-related PPP loan from the SBA of $1,957,227.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:JPMorgan Chase Bank, National Association
Promontory Development, LLC in Phoenix,, AZ received a Paycheck Protection Loan of $1.96M through JPMorgan Chase Bank, National Association, which was approved in April, 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, Promontory Development, LLC's 2019 payroll expenses are estimated to be at least $9.39M.
Based on their reported 196 jobs retained, this equals an estimated average yearly compensation of $47,932 per employee1
Reported PPP Proceed Usage:
On the PPP application, Promontory Development, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,599,999
- Utilities: $152,228
- Rent: $85,000
- Health Care: $120,000
Business Information - Promontory Development, LLC in Phoenix,, AZ
3200 E. Camelback Rd. Suite 295 0.0
Phoenix,, AZ 85018
Golf Courses and Country Clubs
NAICS code 713910
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Phoenix,
In the Phoenix, area, 2 businesses in the "Golf Courses and Country Clubs" industry received a PPP loan. These local businesses reported an average of 100 employees (compared to this company's 196) and received an average PPP loan of $991,421 (compared to this company's $1.96M).
Similar Nearby Businesses Who Received PPP Funding:
D & J Golf Course Services, LLC
Industry PPP Comparison Statistics
Nationwide, 9,352 businesses in the "Golf Courses and Country Clubs" industry received a total of $1.3B 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 28 employees, 86% lower than Promontory Development, LLC's reported 196 employees, and received an average PPP loan of $139,292, 93% lower than this company's loan of $1.96M.
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Footnotes & Information
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