PPP Loan Data — Smith & Smith, LLC, Lanham, MD
Smith & Smith, LLC is a limited liability company (LLC) located at 9336 Annapolis Rd in Lanham, Maryland that received a Coronavirus-related PPP loan from the SBA of $125,100.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least seventeen people during the applicable loan loan period.
$ PPP Loan Information
Lender:TRUIST BANK D/B/A BRANCH BANKING & TRUST CO
Smith & Smith, LLC received a Paycheck Protection Loan of $125,100 through TRUIST BANK D/B/A BRANCH BANKING & TRUST CO, which was approved in April, 2020.
2019 Payroll Estimations based On PPP Amount:
Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 0.
Based on standard PPP eligibility rules, Smith & Smith, LLC's total 2019 payroll expenses were approximately $600,480 in order to qualify for the PPP loan amount received.
Based on their reported 17 jobs retained, this equals an estimated average yearly compensation of $35,322 per employee1.
Business Information - Smith & Smith, LLC in Lanham, MD
9336 Annapolis Rd
Lanham, MD 20706
All Other Specialty Trade Contractors (NAICS code 238990)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: MALE OWNED
Veteran Status: UnreportedCongressional District: MD-04
Similar Companies near Lanham
In the Lanham area, 16 businesses in the "All Other Specialty Trade Contractors" industry received a PPP loan. These local businesses reported an average of 26 employees (compared to this company's 17) and received an average PPP loan of $320,041 (compared to this company's $125,100).
Similar Nearby Businesses Who Received PPP Funding:
PCM Landscape LLC
Polytech Fiberglass Inc
Samayoa Contractors, Inc.
VMP Construction Company, Inc
National Custom Millwork
Ruby Ivy Consulting LLC Formerly Marsh Mitchell & Huie
RMS Contractors Inc
L & B Disaster Restoration LLC
Celsue Construction Services, Inc.
Industry PPP Comparison Statistics
Nationwide, 44,474 businesses in the "All Other Specialty Trade Contractors" industry received a total of $5,068,221,395.00 in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 9 employees, 47% lower than Smith & Smith, LLC's reported 17 employees, and received an average PPP loan of $113,959, 9% lower than this company's loan of $125,100.
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. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
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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