PPP Loan Data — Michael Peggs, LLC, Brooklyn, NY
Michael Peggs, LLC is a limited liability company (LLC) located in Brooklyn, New York that received a Coronavirus-related PPP loan from the SBA of $24,917.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bank of America, National Association
Michael Peggs, LLC in Brooklyn, NY received a Paycheck Protection Loan of $24,917 through Bank of America, National Association, 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 June, 2021.The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 1 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.
Reported PPP Proceed Usage:
On the PPP application, Michael Peggs, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,917
Business Information - Michael Peggs, LLC in Brooklyn, NY
* Full address is redacted to protect the privacy of individuals.
NAICS code 541810
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Brooklyn
In the Brooklyn area, 38 businesses in the "Advertising Agencies" industry received a PPP loan. These local businesses reported an average of 10 employees (compared to this company's 1) and received an average PPP loan of $193,175 (compared to this company's $24,917).
Similar Nearby Businesses Who Received PPP Funding:
Stark Media Planning, LLC
Special Guest Inc
The Charles Group NYC Inc
Solve Innovation Group Inc
Prager Creative, LLC
Ideawork Studios, Inc
Industry PPP Comparison Statistics
Nationwide, 24,012 businesses in the "Advertising Agencies" industry received a total of $2.39B 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 7 employees, 600% higher than Michael Peggs, LLC's reported 1 employees, and received an average PPP loan of $99,714, 300% higher than this company's loan of $24,917.
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Footnotes & Information
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