PPP Loan Data — Security Home Mortgage, Orem, UT
Security Home Mortgage is a limited liability company (LLC) located at 576 South State Street in Orem, Utah that received a Coronavirus-related PPP loan from the SBA of $1,629,912.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:JPMorgan Chase Bank, National Association
Security Home Mortgage in Orem, UT received a Paycheck Protection Loan of $1.63M 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, Security Home Mortgage's 2019 payroll expenses are estimated to be at least $7.82M.
Based on their reported 79 jobs retained, this equals an estimated average yearly compensation of $99,033 per employee1
Reported PPP Proceed Usage:
On the PPP application, Security Home Mortgage reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,629,912
Business Information - Security Home Mortgage in Orem, UT
576 South State Street
Orem, UT 84058
Real Estate Credit
NAICS code 522292
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Orem
In the Orem area, 2 businesses in the "Real Estate Credit" industry received a PPP loan. These local businesses reported an average of 94 employees (compared to this company's 79) and received an average PPP loan of $1,393,320 (compared to this company's $1.63M).
Similar Nearby Businesses Who Received PPP Funding:
First Colony Mortgage Corp
Industry PPP Comparison Statistics
Nationwide, 3,832 businesses in the "Real Estate Credit" industry received a total of $627.92M 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 12 employees, 85% lower than Security Home Mortgage's reported 79 employees, and received an average PPP loan of $163,863, 90% lower than this company's loan of $1.63M.
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Footnotes & Information
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