In order to qualify for the PPP loan amount received, Lightsmith Electric LLC's 2019 payroll expenses are estimated to be at least $390,720. On the PPP application, Lightsmith Electric LLC reported intending to use the proceeds of their PPP loan for the following expenses:īusiness Information - Lightsmith Electric LLC in Snohomish, WAīased 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). The products and services we offer Electric Recommendations Received ( 4) Tom Liontas Keystone Homes Ltd.
In order to qualify for the PPP loan amount received, Lightsmith Electric LLC's 2019 payroll expenses are estimated to be at least $452,194.īased on their reported 8 jobs retained, this equals an estimated average yearly compensation of $56,524 per employee 1 Reported PPP Proceed Usage: Lightsmith Electric strives to provide prompt and reliable service while creating affordable comfort solutions for new construction home-builders and single residential customers. Please Note: Information on estimated payroll and compensation based on PPP rules is provided for informational purposes only.īased 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).
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Additionally, because this standard calculation is based on the maximum loan eligibility, it will under-estimate payroll costs if the business did not apply for the full amount of loan to which it was entitled based on its 2019 payroll expenses and other variables described above.Because salaries for PPP eligibility purposes are capped at $100k, businesses with highly-compensated employees will yield an under-estimation of actual payroll costs.This estimation assumes that the PPP recipient applied for the full amount for which they were eligible, and no other variables affected the loan amount received. Situations may exist in which it may not be accurate to estimate a PPP recipient's payroll expenses based on the amount of PPP loan received. SES - Senior Executive Service Pay Calculatorįor Lightsmith Electric LLC, the calculation used to estimate payroll costs is shown below:.FWS - Federal Wage System Pay Calculator.
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