PPP Loan Data — Rainbow Accounting Service LLC, Telluride, CO
Rainbow Accounting Service LLC is a limited liability company (LLC) located at Po Box 1420 in Telluride, Colorado that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least three people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Rainbow Accounting Service LLC in Telluride, CO received a Paycheck Protection Loan of $25,000 through Alpine 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 March, 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, Rainbow Accounting Service LLC's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Rainbow Accounting Service LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Rainbow Accounting Service LLC in Telluride, CO
Po Box 1420
Telluride, CO 81435
Other Accounting Services
NAICS code 541219
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Telluride
In the Telluride area, 11 businesses in the "Other Accounting Services" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 3) and received an average PPP loan of $42,705 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Newell Services, LLC
SNP Enterprises, Inc
Sydney E Denman
Rosamond F Strong
Asap Accounting And Payroll, Inc
Last Dollar Acounting, LLC
Catapult Consulting LLC
Industry PPP Comparison Statistics
Nationwide, 64,443 businesses in the "Other Accounting Services" industry received a total of $2.03B 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 3 employees, the same amount reported by Rainbow Accounting Service LLC and received an average PPP loan of $31,571, 26% higher than this company's loan of $25,000.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!