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PPP Loan Data — Destination Toledo Inc,
Toledo, OH
Destination Toledo Inc
Entity: Non-profit Organization
Industry: Civic and Social Organizations
Location: Toledo, OH
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Destination Toledo Inc is a non-profit organization located at 401 Jefferson Ave in Toledo, Ohio that received a Coronavirus-related PPP loan from the SBA of $96,565.00 in April, 2021.
$
PPP Loan Information
Loan #7861928805
Loan Size:
Jobs Retained:
8Loan Approved:
2021-04-22Loan Status:
Ongoing LoanLender:
The Huntington National BankDestination Toledo Inc in Toledo, OH received a Paycheck Protection Loan of $96,565 through The Huntington National Bank, which was approved in April, 2021.
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
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.
Read MoreUnderstanding 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.
Read MoreBased 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, Destination Toledo Inc's 2019 payroll expenses are estimated to be at least $463,512.
Based on their reported 8 jobs retained, this equals an estimated average yearly compensation of $57,939 per employee1
Reported PPP Proceed Usage:
On the PPP application, Destination Toledo Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $96,565
Business Information - Destination Toledo Inc in Toledo, OH
401 Jefferson Ave
Toledo, OH 43604
Business Industry:
Civic and Social Organizations
NAICS code 813410
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: Y
Rural / Urban: Urban
Businesses Using Same Address:
There is one other business that received a PPP loan registered to the same address as Destination Toledo Inc.
Toledo-Lucas County Convention And Visitors Bureau
Convention and Trade Show Organizers
Similar Companies near Toledo
In the Toledo area, 9 businesses in the "Civic and Social Organizations" industry received a PPP loan. These local businesses reported an average of 28 employees (compared to this company's 8) and received an average PPP loan of $475,547 (compared to this company's $96,565).
Similar Nearby Businesses Who Received PPP Funding:
The Young Women's Christian Association Of Northwest Ohio
Toledo, OH
Toledo Streets Workforce Development Corp
Toledo, OH
The Young Men's Christian Association Of Greater Toledo
Toledo, OH
Toledo Opera Association
Toledo, OH
Legal Aid Of Western Ohio, Inc
Toledo, OH
The Arts Commission Of Greater Toledo
Toledo, OH
Food For Thought Toledo Inc
Toledo, OH
Second Harvest Community Services Of Northwestern Ohio, Inc
Toledo, OH
Industry PPP Comparison Statistics
Nationwide, 18,467 businesses in the "Civic and Social Organizations" industry received a total of $2.6B 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 20 employees, 150% higher than Destination Toledo Inc's reported 8 employees, and received an average PPP loan of $140,720, 46% higher than this company's loan of $96,565.
Destination Toledo Inc
Entity: Non-profit Organization
Industry: Unclassified Establishments
Location: Toledo, OH
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Destination Toledo Inc is a non-profit organization located at 410 Jefferson Ave. in Toledo, Ohio that received a Coronavirus-related PPP loan from the SBA of $96,566.00 in May, 2020.
$
PPP Loan Information
Loan #9672407708
Loan Size:
Jobs Retained:
8Loan Approved:
2020-05-01Loan Status:
Paid in Full or ForgivenLender:
The Huntington National BankDestination Toledo Inc in Toledo, OH received a Paycheck Protection Loan of $96,566 through The Huntington National Bank, 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 May, 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.
Read MoreUnderstanding 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.
Read MoreBased 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, Destination Toledo Inc's 2019 payroll expenses are estimated to be at least $463,517.
Based on their reported 8 jobs retained, this equals an estimated average yearly compensation of $57,940 per employee1
Reported PPP Proceed Usage:
On the PPP application, Destination Toledo Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $96,566
Business Information - Destination Toledo Inc in Toledo, OH
410 Jefferson Ave.
Toledo, OH 43604
Business Industry:
Unclassified Establishments
NAICS code 999990
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: Y
Rural / Urban: Urban
Similar Companies near Toledo
In the Toledo area, 7 businesses in the "Unclassified Establishments" industry received a PPP loan. These local businesses reported an average of 9 employees (compared to this company's 8) and received an average PPP loan of $56,606 (compared to this company's $96,566).
Similar Nearby Businesses Who Received PPP Funding:
Hajji Toledo, Inc
Toledo, OH
319 Superior LLC
Toledo, OH
Company 9 LLC
Toledo, OH
Reddy Spirits II LLC
Toledo, OH
El Cruzero LLC
Toledo, OH
Jdweiser
Toledo, OH
Industry PPP Comparison Statistics
Nationwide, 85,578 businesses in the "Unclassified Establishments" industry received a total of $3.67B 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 10 employees, 25% higher than Destination Toledo Inc's reported 8 employees, and received an average PPP loan of $42,861, 56% lower than this company's loan of $96,566.
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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