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PPP Loan Data — Gold Bond Inc,
Hixson, TN
Gold Bond Inc
Entity: Corporation
Industry: Other Services Related to Advertising
Location: Hixson, TN
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Gold Bond Inc is a corporation located at 5485 Hixson Pike in Hixson, Tennessee that received a Coronavirus-related PPP loan from the SBA of $1,894,590.00 in March, 2021.
$
PPP Loan Information
Loan #6566558510
Loan Size:
Jobs Retained:
184Loan Approved:
2021-03-04Loan Status:
Paid in Full or ForgivenLender:
First Horizon BankGold Bond Inc in Hixson, TN received a Paycheck Protection Loan of $1.89M through First Horizon Bank, which was approved in March, 2021.
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 October, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Gold Bond Inc's 2019 payroll expenses are estimated to be at least $9.09M.
Based on their reported 184 jobs retained, this equals an estimated average yearly compensation of $49,424 per employee1
Reported PPP Proceed Usage:
On the PPP application, Gold Bond Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,894,586
- Utilities: $1
Business Information - Gold Bond Inc in Hixson, TN
5485 Hixson Pike
Hixson, TN 37343
Business Industry:
Other Services Related to Advertising
NAICS code 541890
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 11,931 businesses in the "Other Services Related to Advertising" industry received a total of $685.46M 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 5 employees, 97% lower than Gold Bond Inc's reported 184 employees, and received an average PPP loan of $57,452, 97% lower than this company's loan of $1.89M.
Gold Bond, Inc
Entity: Corporation
Industry: Commercial Printing (except Screen and Books)
Location: Hixson, TN
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Gold Bond, Inc is a corporation located at 5485 Hixson Pike in Hixson, Tennessee that received a Coronavirus-related PPP loan from the SBA of $2,628,200.00 in April, 2020.
$
PPP Loan Information
Loan #6314167007
Loan Size:
Jobs Retained:
330Loan Approved:
2020-04-06Loan Status:
Paid in Full or ForgivenLender:
First Horizon BankGold Bond, Inc in Hixson, TN received a Paycheck Protection Loan of $2.63M through First Horizon Bank, which was approved in April, 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 July, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Gold Bond, Inc's 2019 payroll expenses are estimated to be at least $12.62M.
Based on their reported 330 jobs retained, this equals an estimated average yearly compensation of $38,228 per employee1
Reported PPP Proceed Usage:
On the PPP application, Gold Bond, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,109,000
- Utilities: $124,000
- Mortgage Interest: $37,200
- Rent: $75,000
- Health Care: $172,000
- Debt Interest: $111,000
Business Information - Gold Bond, Inc in Hixson, TN
5485 Hixson Pike
Hixson, TN 37343
Business Industry:
Commercial Printing (except Screen and Books)
NAICS code 323111
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Hixson
In the Hixson area, 11 businesses in the "Commercial Printing (except Screen and Books)" industry received a PPP loan. These local businesses reported an average of 38 employees (compared to this company's 330) and received an average PPP loan of $308,181 (compared to this company's $2.63M).
Similar Nearby Businesses Who Received PPP Funding:
Perry And Kimberly Manning
Hixson, TN
ID Solutions Inc
Hixson, TN
Crystal Color Graphics, Inc
Hixson, TN
American Printing Ink Company
Hixson, TN
Dynamic Decals & Graphics Inc
Hixson, TN
Steven Burton
Hixson, TN
Industry PPP Comparison Statistics
Nationwide, 23,850 businesses in the "Commercial Printing (except Screen and Books)" industry received a total of $3.07B 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 12 employees, 96% lower than Gold Bond, Inc's reported 330 employees, and received an average PPP loan of $128,748, 95% lower than this company's loan of $2.63M.
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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