PPP Loan Data — Third Light Holdings LLC, Lakewood, NJ
Third Light Holdings LLC is a limited liability company (LLC) located at 1171 Coughlin Street in Lakewood, New Jersey that received a Coronavirus-related PPP loan from the SBA of $47,150.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Third Light Holdings LLC in Lakewood, NJ received a Paycheck Protection Loan of $47,150 through WebBank, which was approved in May, 2020.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 2. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
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, Third Light Holdings LLC's 2019 payroll expenses are estimated to be at least $226,320 (not accounting for salary amounts > $100k).
Because the 2 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, Third Light Holdings LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $47,150
Business Information - Third Light Holdings LLC in Lakewood, NJ
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: Y
Rural / Urban: Urban
Industry PPP Comparison Statistics
PPP recipients in this industry report an average of 0 employees, 100% lower than Third Light Holdings LLC's reported 2 employees, and received an average PPP loan of $0, 100% lower than this company's loan of $47,150.
FederalPay's PPP Information Policy
Footnotes & Information
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