PPP Loan Data — Good Time Tricycle, Linwood, NJ
Good Time Tricycle
Entity: Limited Liability Company (LLC)
Location: Linwood, NJTweet This • Search All PPP Data
Good Time Tricycle is a limited liability company (LLC) located at 222 New Road in Linwood, New Jersey that received a Coronavirus-related PPP loan from the SBA of $45,783.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Republic First Bank d/b/a Republic Bank
Good Time Tricycle in Linwood, NJ received a Paycheck Protection Loan of $45,783 through Republic First Bank d/b/a Republic 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 May, 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, Good Time Tricycle's 2019 payroll expenses are estimated to be at least $219,758.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $54,940 per employee1
Reported PPP Proceed Usage:
On the PPP application, Good Time Tricycle reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $45,783
Business Information - Good Time Tricycle in Linwood, NJ
222 New Road
Linwood, NJ 8221
Promoters of Performing Arts, Sports, and Similar Events with Facilities
NAICS code 711310
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 16,103 businesses in the "Promoters of Performing Arts, Sports, and Similar Events with Facilities" industry received a total of $795.12M 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, 50% higher than Good Time Tricycle's reported 4 employees, and received an average PPP loan of $49,377, 8% higher than this company's loan of $45,783.
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Footnotes & Information
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