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PPP Loan Data — Red Light Management LLC, Charlottesville, VA

SBA PPP loan data, payroll data, and salaries for Red Light Management LLC
VA

Red Light Management LLC

Entity: Limited Liability Company (LLC)

Industry: Musical Groups and Artists

Location: Charlottesville, VA

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Red Light Management LLC is a limited liability company (LLC) located at 455 Second Street Se in Charlottesville, Virginia that received a Coronavirus-related PPP loan from the SBA of $4,889,800.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$4.89M

Jobs Retained:

287

Loan Approved:

2020-04-05

Lender:

BLUE RIDGE BANK, NATIONAL ASSOCIATION

Red Light Management LLC received a Paycheck Protection Loan of $4.89M through BLUE RIDGE BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Red Light Management LLC's total 2019 payroll expenses were approximately $23.47M in order to qualify for the PPP loan amount received.

Based on their reported 287 jobs retained, this equals an estimated average yearly compensation of $81,781 per employee1.

Because the loan received by Red Light Management LLC is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Red Light Management LLC in Charlottesville, VA

Red Light Management LLC
455 Second Street Se
Charlottesville, VA 22902

Business Industry

Musical Groups and Artists (NAICS code 711130)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: VA-05

Similar Companies near Charlottesville

In the Charlottesville area, 16 businesses in the "Musical Groups and Artists" industry received a PPP loan. These local businesses reported an average of 24 employees (compared to this company's 287) and received an average PPP loan of $406,610 (compared to this company's $4.89M).

Industry PPP Comparison Statistics

Nationwide, 6,520 businesses in the "Musical Groups and Artists" industry received a total of $269,690,233.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 6 employees, 98% lower than Red Light Management LLC's reported 287 employees, and received an average PPP loan of $41,364, 99% lower than this company's loan of $4.89M.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.

All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA.

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Footnotes & Information

1. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/red-light-management-llc-charlottesville-va