PPP Loan Data — Digital Thrive, Austin, TX
Digital Thrive is a limited liability company (LLC) located at Ste 338 1700 S Lamar Blvd in Austin, Texas that received a Coronavirus-related PPP loan from the SBA of $47,170.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Cross River Bank
Digital Thrive in Austin, TX received a Paycheck Protection Loan of $47,170 through Cross River Bank, which was approved in May, 2020.
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, Digital Thrive's 2019 payroll expenses are estimated to be at least $226,416.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $45,283 per employee1
Reported PPP Proceed Usage:
On the PPP application, Digital Thrive reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $47,170
Business Information - Digital Thrive in Austin, TX
Ste 338 1700 S Lamar Blvd
Austin, TX 78704
NAICS code 541810
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Austin
In the Austin area, 47 businesses in the "Advertising Agencies" industry received a PPP loan. These local businesses reported an average of 9 employees (compared to this company's 5) and received an average PPP loan of $131,398 (compared to this company's $47,170).
Similar Nearby Businesses Who Received PPP Funding:
Audience Generation LLC
Media Buddy LLC
Aptitude Media Inc
High Five Digital LLC
Create Multimedia, LLC
Crush Adverstising LLC
POP Codex LLC
Industry PPP Comparison Statistics
Nationwide, 24,012 businesses in the "Advertising Agencies" industry received a total of $2.39B 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 7 employees, 40% higher than Digital Thrive's reported 5 employees, and received an average PPP loan of $99,714, 111% higher than this company's loan of $47,170.
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Footnotes & Information
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