PPP Loan Data — Spectrum Lighting Inc, Fall River, MA
Spectrum Lighting Inc
Location: Fall River, MATweet This • Search All PPP Data
Spectrum Lighting Inc is a corporation located at 994 Jefferson St in Fall River, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $2,600,000.00 in April, 2020.
$ PPP Loan Information
Lender:ROCKLAND TRUST COMPANY
Spectrum Lighting Inc in Fall River, MA received a Paycheck Protection Loan of $2.6M through ROCKLAND TRUST COMPANY, which was approved in April, 2020.
Based on standard PPP eligibility rules, Spectrum Lighting Inc's total 2019 payroll expenses were approximately $12.48M in order to qualify for the PPP loan amount received.
Based on their reported 260 jobs retained, this equals an estimated average yearly compensation of $48,000 per employee1.
Business Information - Spectrum Lighting Inc in Fall River, MA
994 Jefferson St
Fall River, MA 02721
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: MA-09
Similar Companies near Fall River
In the Fall River area, 3 businesses in the "Commercial, Industrial, and Institutional Electric Lighting Fixture Manufacturing" industry received a PPP loan. These local businesses reported an average of 240 employees (compared to this company's 260) and received an average PPP loan of $1,036,707 (compared to this company's $2.6M).
Similar Nearby Businesses Who Received PPP Funding:
Atlantic Lighting, Inc.
Fall River, MA
Resource Lighting And Energy Inc
Fall River, MA
Industry PPP Comparison Statistics
Nationwide, 688 businesses in the "Commercial, Industrial, and Institutional Electric Lighting Fixture Manufacturing" industry received a total of $189,320,355.00 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 20 employees, 92% lower than Spectrum Lighting Inc's reported 260 employees, and received an average PPP loan of $275,175, 89% lower than this company's loan of $2.6M.
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.
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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