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PPP Loan Data — Slingshot Connections, LLC, San Jose, CA

SBA PPP loan data, payroll data, and salaries for Slingshot Connections, LLC
CA

Slingshot Connections, LLC

Entity: Limited Liability Company (LLC)

Industry: Executive Search Services

Location: San Jose, CA

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Slingshot Connections, LLC is a limited liability company (LLC) located at 1590 The Alameda, Suite 110 in San Jose, California that received a Coronavirus-related PPP loan from the SBA of $3,319,000.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least 391 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$3.32M

Jobs Retained:

391

Loan Approved:

2020-04-13

Lender:

READYCAP LENDING, LLC

Slingshot Connections, LLC in San Jose, CA received a Paycheck Protection Loan of $3.32M through READYCAP LENDING, LLC, which was approved in April, 2020.

Based on standard PPP eligibility rules, Slingshot Connections, LLC's total 2019 payroll expenses were approximately $15.93M in order to qualify for the PPP loan amount received.

Based on their reported 391 jobs retained, this equals an estimated average yearly compensation of $40,745 per employee1.

Because the loan received by Slingshot Connections, 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 - Slingshot Connections, LLC in San Jose, CA

Slingshot Connections, LLC
1590 The Alameda, Suite 110
San Jose, CA 95126

Business Industry

Executive Search Services (NAICS code 561312)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: MALE OWNED

Veteran Status: NON-VETERAN

Congressional District: CA-19

Similar Companies near San Jose

In the San Jose area, 5 businesses in the "Executive Search Services" industry received a PPP loan. These local businesses reported an average of 81 employees (compared to this company's 391) and received an average PPP loan of $738,591 (compared to this company's $3.32M).

Industry PPP Comparison Statistics

Nationwide, 4,499 businesses in the "Executive Search Services" industry received a total of $602,770,500.00 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 12 employees, 97% lower than Slingshot Connections, LLC's reported 391 employees, and received an average PPP loan of $133,979, 96% lower than this company's loan of $3.32M.

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, and is published unmodified, as provided by the SBA.

Search FederalPay's Full PPP Loan Database

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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Source: www.federalpay.org/paycheck-protection-program/slingshot-connections-llc-san-jose-ca