PPP Loan Data — Raindance LLC, Lewistown, MT
Raindance LLC is a limited liability company (LLC) located at 6300 Lime Kiln Rd in Lewistown, Montana that received a Coronavirus-related PPP loan from the SBA of $46,687.00 in January, 2021.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank of the Rockies
Raindance LLC in Lewistown, MT received a Paycheck Protection Loan of $46,687 through Bank of the Rockies, which was approved 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, Raindance LLC's 2019 payroll expenses are estimated to be at least $224,098.
Based on their reported 13 jobs retained, this equals an estimated average yearly compensation of $17,238 per employee1
Reported PPP Proceed Usage:
On the PPP application, Raindance LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,683
- Utilities: $1
Business Information - Raindance LLC in Lewistown, MT
6300 Lime Kiln Rd
Lewistown, MT 59457
Hotels (except Casino Hotels) and Motels
NAICS code 721110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Lewistown
In the Lewistown area, 8 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a PPP loan. These local businesses reported an average of 18 employees (compared to this company's 13) and received an average PPP loan of $109,979 (compared to this company's $46,687).
Similar Nearby Businesses Who Received PPP Funding:
Calvert Hotel Operations
L&G Management Inc
Yogo Management, Inc
Calvert Hotel Operations Inc
Lewistown Lodging LLC
Industry PPP Comparison Statistics
Nationwide, 82,605 businesses in the "Hotels (except Casino Hotels) and Motels" industry received a total of $13.95B 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 23 employees, 77% higher than Raindance LLC's reported 13 employees, and received an average PPP loan of $168,829, 262% higher than this company's loan of $46,687.
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Footnotes & Information
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