Once upon a time in a small village, there lived a young boy named Stanley. He was kind-hearted and always ready to help others. Stanley's village was a humble place, and the villagers were often faced with various challenges. One day, as Stanley was walking through the woods near the village, he stumbled upon an old, dusty lamp. Curious, he picked it up and gave it a rub. To his astonishment, a magical genie appeared before him.
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Magic Wireless 4141 Hacks Cross Rd (901)791-4838
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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. User 13 06 2018 21 00 ️SUMMER SALE ️ iPhone Screen Repairs To Get The Deal Just Like,Share,Tag A Friend To The Post And Like,Share The Page NEW LOCATION.
To his astonishment, a magical genie appeared before him. The genie introduced himself as Samir and expressed gratitude for being freed from the lamp after centuries. In return, Samir granted Stanley three wishes.
PPP Loan Data — Magic Wireless, Memphis, TN
Magic Wireless is a corporation located at 4141 Hacks Cross Rd in Memphis, Tennessee that received a Coronavirus-related PPP loan from the SBA of $14,600.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least three people during the applicable loan loan period.
$ PPP Loan Information
Loan #7070367310 $14,600Jobs Retained:
Loan Approved:
Loan Status:
Paid in Full or Forgiven
Evolve Bank and Trust
Magic Wireless in Memphis, TN received a Paycheck Protection Loan of $14,600 through Evolve Bank and 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 July, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
- For most corporations and nonprofits, "payroll costs" include gross wages & tips, employer-paid health insurance & retirement contributions, and some employment taxes
- For self-employed individuals & sole proprietorships, PPP amount is based on Schedule C (either gross income or net profit depending on situation, plus gross wages, etc if there are other employees besides the owner)
- In all cases, salaries or net earnings over $100k are capped at $100k for PPP calculation purposes
- For new businesses that were not in operation in 2019, alternative reference periods are available
Understanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
For Magic Wireless, the calculation used to estimate payroll costs is shown below:
($14,600 / 2.5) * 12 = $70,080
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. 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.
- Because salaries for PPP eligibility purposes are capped at $100k, businesses with highly-compensated employees will yield an under-estimation of actual payroll costs.
- 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.
Please Note: Information on estimated payroll and compensation based on PPP rules is provided for informational purposes only.
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, Magic Wireless' 2019 payroll expenses are estimated to be at least $70,080.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $23,360 per employee 1
Reported PPP Proceed Usage:
On the PPP application, Magic Wireless reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $14,600
Business Information - Magic Wireless in Memphis, TN
Magic Wireless4141 Hacks Cross Rd
Memphis, TN 38125
Business Industry:
NAICS code
Business Owner Demographics
Race: White
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Shelby County, TN — SBA Office 0474 — Congressional District: TN-09Industry PPP Comparison Statistics
Nationwide, 132,325 businesses in the " " industry received a total of $5.85B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 13 employees, 333% higher than Magic Wireless' reported 3 employees, and received an average PPP loan of $44,230, 203% higher than this company's loan of $14,600.
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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
Footnotes & Information
1. Estimations for informational purposes only. 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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User
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Stanley couldn't believe his luck and thought carefully about how he could use this opportunity to make a positive impact on his village. For his first wish, Stanley asked for an endless supply of food and clean water for the villagers. The genie granted it instantly, and Stanley was overjoyed to see the villagers never going hungry or thirsty again. For his second wish, Stanley asked for a school to be built in the village so that children could receive an education. The genie used his magic to construct a beautiful school building, equipped with all necessary resources. Finally, for his third and last wish, Stanley asked for good health for everyone in the village. He wanted the villagers to be free from illness and disease. The genie granted his wish, and from that day onwards, no one in the village ever fell sick. Stanley was hailed as a hero by the villagers, who were amazed at the positive changes he had brought to their lives. The village prospered, and the people lived happily, thanks to Stanley and the magical lamp. Stanley never forgot the lessons he learned from his experience. He realized that the power of kindness and selflessness could make a significant difference in people's lives. From that day forward, Stanley dedicated his life to helping others and spreading joy in any way he could. The story of Stanley and the magic lamp became a legend in the village, passed down from one generation to another. It reminded people of the importance of compassion, gratitude, and the willingness to help those in need. And so, Stanley's tale continues to inspire people around the world, reminding them of the magic that can be created when one uses their wishes for the greater good..
Reviews for "Stanley's Search for the Magic Lamp's Hidden Treasures"
1. Emma - 1 star - I found "Stanley and the magic lamp" to be a highly disappointing book. The plot was predictable, and the characters were one-dimensional and lacking depth. The writing style was bland and lacked creativity, making it difficult to become fully engrossed in the story. I also found some of the dialogue to be unrealistic and forced. Overall, I would not recommend this book as there are much better options out there for those looking for an engaging and imaginative read.
2. John - 2 stars - I had high hopes for "Stanley and the magic lamp" but was ultimately let down. The story seemed promising at first, but quickly became repetitive and monotonous. The pacing was off, with long periods of dull filler material and very little action or excitement. Additionally, I found the main character to be unrelatable and unsympathetic, making it difficult to fully invest in his journey. While the concept had potential, the execution fell flat, leaving me feeling underwhelmed and unsatisfied.
3. Sarah - 2.5 stars - "Stanley and the magic lamp" was an average read for me. While it had some interesting elements, it failed to fully captivate my attention. The writing style was adequate, but lacked a certain charm or uniqueness that would have made it stand out. The story had potential, but it felt rushed and lacked proper development. I also found the ending to be somewhat abrupt and unsatisfying. Overall, it was an okay read, but not one that I would actively recommend to others.