SMARTLINK HOLDINGS LLC
PPP Loan approved Apr 27, 2020 through CFG Community Bank
Borrower Information
Business Details
Lender Information
Self-Reported Demographics
How Proceeds Were Used
| Category | Amount | % of Total Proceeds |
|---|---|---|
| Payroll | $9,513,712.50 | 100.0% |
About This Loan
SMARTLINK HOLDINGS LLC received a PPP loan of $9,513,713 approved on Apr 27, 2020. The loan was originated by CFG Community Bank.
SMARTLINK HOLDINGS LLC is a limited liability company(llc) located in ANNAPOLIS, Maryland. At the time of the application, the business was described as "existing or more than 2 years old".
The business operates in the Management, Scientific, and Technical Consulting Services industry (NAICS 541611), part of the Professional, Scientific, and Technical Services sector of the economy. The applicant reported 500 jobs as retained through this loan.
The SBA forgave $9,620,741.77 of this loan — 101.1% of the total approved amount, with forgiveness recorded on Jun 11, 2021. 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: $9,513,713 to payroll. 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 Maryland, visit the Maryland page. To compare this loan with others in the same industry, see the Management, Scientific, and Technical Consulting Services industry page.