PPP Loan Data — Property Sunshine Developement LLC, Albany, NY
Property Sunshine Developement LLC is a limited liability company (LLC) located at 90 State St in Albany, New York that received a Coronavirus-related PPP loan from the SBA of $24,960.00 in June, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Cross River Bank
Property Sunshine Developement LLC in Albany, NY received a Paycheck Protection Loan of $24,960 through Cross River Bank, which was approved in June, 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, Property Sunshine Developement LLC's 2019 payroll expenses are estimated to be at least $119,808.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $59,904 per employee1
Reported PPP Proceed Usage:
On the PPP application, Property Sunshine Developement LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,960
Business Information - Property Sunshine Developement LLC in Albany, NY
90 State St
Albany, NY 12207
Nonresidential Property Managers
NAICS code 531312
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: Y
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 11,970 businesses in the "Nonresidential Property Managers" industry received a total of $1.22B 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 9 employees, 350% higher than Property Sunshine Developement LLC's reported 2 employees, and received an average PPP loan of $101,557, 307% higher than this company's loan of $24,960.
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Footnotes & Information
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