PPP Loan Data — Gotore Management LLC-Sba Small 7A Term, Springfield, MA
Gotore Management LLC-Sba Small 7A Term is a limited liability company (LLC) located at 155 Maple St Suite 305 in Springfield, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:TD Bank, National Association
Gotore Management LLC-Sba Small 7A Term in Springfield, MA received a Paycheck Protection Loan of $25,000 through TD Bank, National Association, which was approved in May, 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, Gotore Management LLC-Sba Small 7A Term's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Gotore Management LLC-Sba Small 7A Term reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Gotore Management LLC-Sba Small 7A Term in Springfield, MA
155 Maple St Suite 305
Springfield, MA 1105
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Industry PPP Comparison Statistics
PPP recipients in this industry report an average of 0 employees, 100% lower than Gotore Management LLC-Sba Small 7A Term's reported 3 employees, and received an average PPP loan of $0, 100% lower than this company's loan of $25,000.
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Footnotes & Information
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