PPP Loan Data — Gemmy Industries Corporation, Coppell, TX
Gemmy Industries Corporation
Location: Coppell, TXTweet This • Search All PPP Data
Gemmy Industries Corporation is a corporation located at 117 Wrangler Drive, Suite 100 0.0 in Coppell, Texas that received a Coronavirus-related PPP loan from the SBA of $1,663,362.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:JPMorgan Chase Bank, National Association
Gemmy Industries Corporation in Coppell, TX received a Paycheck Protection Loan of $1.66M through JPMorgan Chase Bank, National Association, which was approved in April, 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, Gemmy Industries Corporation's 2019 payroll expenses are estimated to be at least $7.98M.
Based on their reported 92 jobs retained, this equals an estimated average yearly compensation of $86,784 per employee1
Reported PPP Proceed Usage:
On the PPP application, Gemmy Industries Corporation reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,436,362
- Utilities: $15,000
- Mortgage Interest: $114,000
- Rent: $98,000
Business Information - Gemmy Industries Corporation in Coppell, TX
117 Wrangler Drive, Suite 100 0.0
Coppell, TX 75019
Toy and Hobby Goods and Supplies Merchant Wholesalers
NAICS code 423920
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Coppell
In the Coppell area, 2 businesses in the "Toy and Hobby Goods and Supplies Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 47 employees (compared to this company's 92) and received an average PPP loan of $839,494 (compared to this company's $1.66M).
Similar Nearby Businesses Who Received PPP Funding:
Industry PPP Comparison Statistics
Nationwide, 2,876 businesses in the "Toy and Hobby Goods and Supplies Merchant Wholesalers" industry received a total of $266.28M 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 9 employees, 90% lower than Gemmy Industries Corporation's reported 92 employees, and received an average PPP loan of $92,585, 94% lower than this company's loan of $1.66M.
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Footnotes & Information
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