PPP Loan Data — Solar Shift LLC, Homer Glen, IL
Solar Shift LLC is a limited liability company (LLC) located at 13842 S Twin Oaks Ct in Homer Glen, Illinois that received a Coronavirus-related PPP loan from the SBA of $25,030.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Longview Bank & Trust
Solar Shift LLC in Homer Glen, IL received a Paycheck Protection Loan of $25,030 through Longview Bank & Trust, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in February, 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, Solar Shift LLC's 2019 payroll expenses are estimated to be at least $120,144.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $20,024 per employee1
Reported PPP Proceed Usage:
On the PPP application, Solar Shift LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,030
Business Information - Solar Shift LLC in Homer Glen, IL
13842 S Twin Oaks Ct
Homer Glen, IL 60491
Solar Electric Power Generation
NAICS code 221114
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 2,779 businesses in the "Solar Electric Power Generation" industry received a total of $274.42M 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 8 employees, 33% higher than Solar Shift LLC's reported 6 employees, and received an average PPP loan of $98,748, 295% higher than this company's loan of $25,030.
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Footnotes & Information
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