PPP Loan Data — Hype Designs LLC, Hollywood, FL
Hype Designs LLC is a subchapter s corporation located at 2040 Grant Street in Hollywood, Florida that received a Coronavirus-related PPP loan from the SBA of $25,352.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Pacific National Bank
Hype Designs LLC in Hollywood, FL received a Paycheck Protection Loan of $25,352 through Pacific National Bank, which was approved in May, 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 March, 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, Hype Designs LLC's 2019 payroll expenses are estimated to be at least $121,690.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,563 per employee1
Reported PPP Proceed Usage:
On the PPP application, Hype Designs LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,352
Business Information - Hype Designs LLC in Hollywood, FL
2040 Grant Street
Hollywood, FL 33020
Other Specialized Design Services
NAICS code 541490
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Hollywood
In the Hollywood area, 22 businesses in the "Other Specialized Design Services" industry received a PPP loan. These local businesses reported an average of 1 employees (compared to this company's 3) and received an average PPP loan of $15,442 (compared to this company's $25,352).
Similar Nearby Businesses Who Received PPP Funding:
Maria Enza Finamore Design
Sandra T Bracho
Industry PPP Comparison Statistics
Nationwide, 15,734 businesses in the "Other Specialized Design Services" industry received a total of $603.75M 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 3 employees, the same amount reported by Hype Designs LLC and received an average PPP loan of $38,372, 51% higher than this company's loan of $25,352.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!