PPP Loan Data — Cluster Chord Productions, Purcell, OK
Cluster Chord Productions is a limited liability company (LLC) located at 1032 Timberlake Drive in Purcell, Oklahoma that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in August, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:MBE Capital Partners
Cluster Chord Productions in Purcell, OK received a Paycheck Protection Loan of $25,000 through MBE Capital Partners, which was approved in August, 2020.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
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, Cluster Chord Productions' 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Cluster Chord Productions reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Cluster Chord Productions in Purcell, OK
1032 Timberlake Drive
Purcell, OK 73080
Other Sound Recording Industries
NAICS code 512290
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Purcell
In the Purcell area, 2 businesses in the "Other Sound Recording Industries" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 2) and received an average PPP loan of $25,000 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Clusterchord Productions LLC
Industry PPP Comparison Statistics
Nationwide, 3,935 businesses in the "Other Sound Recording Industries" industry received a total of $124.93M 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 3 employees, 50% higher than Cluster Chord Productions' reported 2 employees, and received an average PPP loan of $31,749, 27% higher than this company's loan of $25,000.
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Footnotes & Information
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