PPP Loan Data — Islander Team Sports LLC, Hampton, VA
Islander Team Sports LLC is a limited liability company (LLC) located at 63 Wythe Creek Rd Suite 3 in Hampton, Virginia that received a Coronavirus-related PPP loan from the SBA of $25,100.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Islander Team Sports LLC in Hampton, VA received a Paycheck Protection Loan of $25,100 through Towne Bank, which was approved in April, 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, Islander Team Sports LLC's 2019 payroll expenses are estimated to be at least $120,480.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,160 per employee1
Reported PPP Proceed Usage:
On the PPP application, Islander Team Sports LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,100
Business Information - Islander Team Sports LLC in Hampton, VA
63 Wythe Creek Rd Suite 3
Hampton, VA 23662
Sporting Goods Stores
NAICS code 451110
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, 13,835 businesses in the "Sporting Goods Stores" industry received a total of $738.33M 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 8 employees, 167% higher than Islander Team Sports LLC's reported 3 employees, and received an average PPP loan of $53,367, 113% higher than this company's loan of $25,100.
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Footnotes & Information
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