PPP Loan Data — Weddings & Events By Faith LLC, Denver, CO
Weddings & Events By Faith LLC is a limited liability company (LLC) located in Denver, Colorado that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Wells Fargo Bank, National Association
Weddings & Events By Faith LLC in Denver, CO received a Paycheck Protection Loan of $25,000 through Wells Fargo Bank, National Association, which was approved in April, 2020.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 1. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
Reported PPP Proceed Usage:
On the PPP application, Weddings & Events By Faith LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Weddings & Events By Faith LLC in Denver, CO
* Full address is redacted to protect the privacy of individuals.
All Other Personal Services
NAICS code 812990
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Denver
In the Denver area, 21 businesses in the "All Other Personal Services" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 1) and received an average PPP loan of $29,891 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Denver Key Maker Locksmith LLC
Ruche Personal Assisting
Stephanie H Munoz Fox
Joyful Soul Cleaning Inc
Park Hill Preschool, Inc
Industry PPP Comparison Statistics
Nationwide, 237,729 businesses in the "All Other Personal Services" industry received a total of $5.63B in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 3 employees, 200% higher than Weddings & Events By Faith LLC's reported 1 employees, and received an average PPP loan of $23,676, 5% lower than this company's loan of $25,000.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
Have FederalPay.org's open data tools been valuable? Consider donating!