PPP Loan Data — Freeride Bike Co LLC, Gilbert, AZ
Freeride Bike Co LLC is a limited liability company (LLC) located at 3143 E Willms Fld Rd Unit 102 in Gilbert, Arizona that received a Coronavirus-related PPP loan from the SBA of $46,372.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bank of America, National Association
Freeride Bike Co LLC in Gilbert, AZ received a Paycheck Protection Loan of $46,372 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, Freeride Bike Co LLC's 2019 payroll expenses are estimated to be at least $222,586.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $44,517 per employee1
Reported PPP Proceed Usage:
On the PPP application, Freeride Bike Co LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,372
Business Information - Freeride Bike Co LLC in Gilbert, AZ
3143 E Willms Fld Rd Unit 102
Gilbert, AZ 85295
All Other Support Activities for Transportation
NAICS code 488999
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Gilbert
In the Gilbert area, 6 businesses in the "All Other Support Activities for Transportation" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 5) and received an average PPP loan of $37,733 (compared to this company's $46,372).
Similar Nearby Businesses Who Received PPP Funding:
Go Time Transport LLC
Arrow Inland Corporation
Fair Trans Inc
Swail Ground Service Inc
Industry PPP Comparison Statistics
Nationwide, 18,826 businesses in the "All Other Support Activities for Transportation" industry received a total of $765.1M 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 6 employees, 20% higher than Freeride Bike Co LLC's reported 5 employees, and received an average PPP loan of $40,641, 12% lower than this company's loan of $46,372.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!