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PPP Loan Data — Freedom Powersports, LLC, Fort Worth, TX

SBA PPP loan data, payroll data, and salaries for Freedom Powersports, LLC
TX

Freedom Powersports, LLC

Entity: Limited Liability Company (LLC)

Industry: Motorcycle, ATV, and All Other Motor Vehicle Dealers

Location: Fort Worth, TX

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Freedom Powersports, LLC is a limited liability company (LLC) located at 3301 Hamilton Ave Ste 101 in Fort Worth, Texas that received a Coronavirus-related PPP loan from the SBA of $2,801,425.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.8M

Jobs Retained:

224

Loan Approved:

2020-04-13

Lender:

FIRST FINANCIAL BANK, NATIONAL ASSOCIATION

Freedom Powersports, LLC received a Paycheck Protection Loan of $2.8M through FIRST FINANCIAL BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Freedom Powersports, LLC's total 2019 payroll expenses were approximately $13.45M in order to qualify for the PPP loan amount received.

Based on their reported 224 jobs retained, this equals an estimated average yearly compensation of $60,031 per employee1.

Because the loan received by Freedom Powersports, LLC is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Freedom Powersports, LLC in Fort Worth, TX

Freedom Powersports, LLC
3301 Hamilton Ave Ste 101
Fort Worth, TX 76107

Business Industry

Motorcycle, ATV, and All Other Motor Vehicle Dealers (NAICS code 441228)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: TX-12

Similar Companies near Fort Worth

In the Fort Worth area, 3 businesses in the "Motorcycle, ATV, and All Other Motor Vehicle Dealers" industry received a PPP loan. These local businesses reported an average of 77 employees (compared to this company's 224) and received an average PPP loan of $977,164 (compared to this company's $2.8M).

Industry PPP Comparison Statistics

Nationwide, 5,280 businesses in the "Motorcycle, ATV, and All Other Motor Vehicle Dealers" industry received a total of $853,860,010.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 14 employees, 94% lower than Freedom Powersports, LLC's reported 224 employees, and received an average PPP loan of $161,716, 94% lower than this company's loan of $2.8M.

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.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. 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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/freedom-powersports-llc-fort-worth-tx