LSG LUFTHANSA SERVICE GUAM INC
PPP Loan approved Apr 21, 2021 through Bank of Guam
Borrower Information
Business Details
Lender Information
Self-Reported Demographics
How Proceeds Were Used
| Category | Amount | % of Total Proceeds |
|---|---|---|
| Payroll | $1,360,799.60 | 100.0% |
| Utilities | $1.00 | 0.0% |
About This Loan
LSG LUFTHANSA SERVICE GUAM INC received a PPP loan of $1,360,806 approved on Apr 21, 2021. The loan was originated by Bank of Guam.
LSG LUFTHANSA SERVICE GUAM INC is a corporation located in TAMUNING, Guam. At the time of the application, the business was described as "existing or more than 2 years old".
The business operates in the Special Food Services industry (NAICS 722310), part of the Accommodation and Food Services sector of the economy. The applicant reported 180 jobs as retained through this loan.
The SBA forgave $1,373,966.27 of this loan — 101.0% of the total approved amount, with forgiveness recorded on May 3, 2022. This means the borrower was not required to repay this portion, having satisfied the PPP's eligibility criteria for forgiveness, including maintaining payroll levels and using the funds for qualified expenses.
According to the SBA's records, the proceeds of this loan were allocated as follows: $1,360,800 to payroll, $1 to utilities. The payroll component represents 100.0% of disclosed proceeds, consistent with the program's requirement that at least 60% of loan funds be used for payroll costs to qualify for full forgiveness.
This loan is one of millions approved nationwide during the COVID-19 pandemic. To explore other recipients in Guam, visit the Guam page. To compare this loan with others in the same industry, see the Special Food Services industry page.