PPP Loan Data — Bicycles Etc, Jacksonville, FL
Bicycles Etc is a partnership located at 8036 Philips Hwy Ste 8 in Jacksonville, Florida that received a Coronavirus-related PPP loan from the SBA of $46,459.00 in May, 2020.
The company has reported itself as a White male owned business, and employed at least fifteen people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bank of America, National Association
Bicycles Etc in Jacksonville, FL received a Paycheck Protection Loan of $46,459 through Bank of America, National Association, which was approved in May, 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 April, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
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, Bicycles Etc's 2019 payroll expenses are estimated to be at least $223,003.
Based on their reported 15 jobs retained, this equals an estimated average yearly compensation of $14,867 per employee1
Reported PPP Proceed Usage:
On the PPP application, Bicycles Etc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,459
Business Information - Bicycles Etc in Jacksonville, FL
8036 Philips Hwy Ste 8
Jacksonville, FL 32256
Sporting Goods Stores
NAICS code 451110
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: New Business or 2 years or less
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Jacksonville
In the Jacksonville area, 5 businesses in the "Sporting Goods Stores" industry received a PPP loan. These local businesses reported an average of 11 employees (compared to this company's 15) and received an average PPP loan of $91,708 (compared to this company's $46,459).
Similar Nearby Businesses Who Received PPP Funding:
Scotts Sports LLC
Michael S Kogan, Inc
Clawson Custom Cues, Inc
Airsoft Barracks LLC
Industry PPP Comparison Statistics
Nationwide, 13,835 businesses in the "Sporting Goods Stores" industry received a total of $738.33M in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 8 employees, 47% lower than Bicycles Etc's reported 15 employees, and received an average PPP loan of $53,367, 15% higher than this company's loan of $46,459.
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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