PPP Loan Data — Gryffin's Talon LLC, West Palm Beach, FL
Gryffin's Talon LLC is a limited liability company (LLC) located at 5601 Corporate Way Ste 108 in West Palm Beach, Florida that received a Coronavirus-related PPP loan from the SBA of $24,961.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank of America, National Association
Gryffin's Talon LLC in West Palm Beach, FL received a Paycheck Protection Loan of $24,961 through Bank of America, 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, Gryffin's Talon LLC's 2019 payroll expenses are estimated to be at least $119,813.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $39,938 per employee1
Reported PPP Proceed Usage:
On the PPP application, Gryffin's Talon LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,961
Business Information - Gryffin's Talon LLC in West Palm Beach, FL
5601 Corporate Way Ste 108
West Palm Beach, FL 33407
NAICS code 541380
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near West Palm Beach
In the West Palm Beach area, 2 businesses in the "Testing Laboratories" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 3) and received an average PPP loan of $15,378 (compared to this company's $24,961).
Similar Nearby Businesses Who Received PPP Funding:
No Corrosion, LLC
West Palm Beach, FL
Industry PPP Comparison Statistics
Nationwide, 4,541 businesses in the "Testing Laboratories" industry received a total of $814.04M 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 16 employees, 433% higher than Gryffin's Talon LLC's reported 3 employees, and received an average PPP loan of $179,264, 618% higher than this company's loan of $24,961.
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Footnotes & Information
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