PPP Loan Data — Gerald Sykes, Austin, TX
Entity: Sole Proprietorship
Location: Austin, TXTweet This • Search All PPP Data
Gerald Sykes is a sole proprietorship located in Austin, Texas that received a Coronavirus-related PPP loan from the SBA of $20,416.00 in March, 2021.
The company has reported itself as a Black or african american female owned business, and employed at least one person during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Cross River Bank
Gerald Sykes in Austin, TX received a Paycheck Protection Loan of $20,416 through Cross River Bank, which was approved in March, 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.
Reported PPP Proceed Usage:
On the PPP application, Gerald Sykes reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $20,410
- Utilities: $1
Business Information - Gerald Sykes in Austin, TX
* Full address is redacted to protect the privacy of individuals.
All Other Miscellaneous Store Retailers (except Tobacco Stores)
NAICS code 453998
Business Owner Demographics
Race: Black or African American
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Businesses Using Same Address:
There are 2 other businesses that received a PPP loan registered to the same address as Gerald Sykes.
Yoan Jose Escalante Sanchez
General Freight Trucking, Long-Distance, Truckload
Similar Companies near Austin
In the Austin area, 50 businesses in the "All Other Miscellaneous Store Retailers (except Tobacco Stores)" industry received a PPP loan. These local businesses reported an average of 12 employees (compared to this company's 1) and received an average PPP loan of $109,009 (compared to this company's $20,416).
Similar Nearby Businesses Who Received PPP Funding:
Biscuits + Groovy LLC
Chin's Gift Shop
Huytran Enterprises Inc
Sands Of Texas Jewelry LLC
Luxe Apothetique LP
Industry PPP Comparison Statistics
Nationwide, 146,317 businesses in the "All Other Miscellaneous Store Retailers (except Tobacco Stores)" industry received a total of $5.11B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 4 employees, 300% higher than Gerald Sykes' reported 1 employees, and received an average PPP loan of $34,921, 71% higher than this company's loan of $20,416.
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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