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PPP Loan Data — Minaret Sports Inc,
Mammoth Lakes, CA
Minaret Sports Inc
Entity: Corporation
Industry: All Other Miscellaneous Store Retailers (except Tobacco Stores)
Location: Mammoth Lakes, CA
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Minaret Sports Inc is a corporation located at 3325 Main St in Mammoth Lakes, California that received a Coronavirus-related PPP loan from the SBA of $49,500.00 in January, 2021.
The company has reported itself as a male owned business, and employed at least thirteen people during the applicable loan loan period.
$
PPP Loan Information
Loan #8664258310
Loan Size:
Jobs Retained:
13Loan Approved:
2021-01-29Loan Status:
Ongoing LoanLender:
Bank of America, National AssociationMinaret Sports Inc in Mammoth Lakes, CA received a Paycheck Protection Loan of $49,500 through Bank of America, National Association, which was approved in January, 2021.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Minaret Sports Inc's 2019 payroll expenses are estimated to be at least $237,600.
Based on their reported 13 jobs retained, this equals an estimated average yearly compensation of $18,277 per employee1
Reported PPP Proceed Usage:
On the PPP application, Minaret Sports Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $49,498
- Utilities: $1
Business Information - Minaret Sports Inc in Mammoth Lakes, CA
3325 Main St
Mammoth Lakes, CA 93546
Business Industry:
All Other Miscellaneous Store Retailers (except Tobacco Stores)
NAICS code 453998
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Rural
Businesses Using Same Address:
There are 3 other businesses that received a PPP loan registered to the same address as Minaret Sports Inc.
Karen O'kelly
Beauty Salons
Enjoy Elixir LLC
Full-Service Restaurants
Mammoth Reservations Inc
All Other Traveler Accommodation
Similar Companies near Mammoth Lakes
In the Mammoth Lakes area, 16 businesses in the "All Other Miscellaneous Store Retailers (except Tobacco Stores)" industry received a PPP loan. These local businesses reported an average of 10 employees (compared to this company's 13) and received an average PPP loan of $59,227 (compared to this company's $49,500).
Similar Nearby Businesses Who Received PPP Funding:
Freetime Ventures Incorporated
Mammoth Lakes, CA
Cruz Cleaning
Mammoth Lakes, CA
L.m. Norton Enterprises
Mammoth Lakes, CA
Robert L Davis Inc
Mammoth Lakes, CA
Another T-Shirt Shop, Inc
Mammoth Lakes, CA
Lone Pine Mobil
Lone Pine, CA
The Grill
Lone Pine, CA
Rowley Style Inc
Mammoth Lakes, CA
Industry PPP Comparison Statistics
Nationwide, 146,534 businesses in the "All Other Miscellaneous Store Retailers (except Tobacco Stores)" industry received a total of $5.11B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 4 employees, 69% lower than Minaret Sports Inc's reported 13 employees, and received an average PPP loan of $34,905, 29% lower than this company's loan of $49,500.
Minaret Sports Inc
Entity: Corporation
Industry: Sporting Goods Stores
Location: Mammoth Lakes, CA
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Minaret Sports Inc is a corporation located at 3325 Main St, #2 Box 3939 in Mammoth Lakes, California that received a Coronavirus-related PPP loan from the SBA of $62,037.00 in May, 2020.
The company has reported itself as a male owned business, and employed at least six people during the applicable loan loan period.
$
PPP Loan Information
Loan #5556217704
Loan Size:
Jobs Retained:
6Loan Approved:
2020-05-01Loan Status:
Paid in Full or ForgivenLender:
Bank of America, National AssociationMinaret Sports Inc in Mammoth Lakes, CA received a Paycheck Protection Loan of $62,037 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 April, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Minaret Sports Inc's 2019 payroll expenses are estimated to be at least $297,778.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $49,630 per employee1
Reported PPP Proceed Usage:
On the PPP application, Minaret Sports Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $62,037
Business Information - Minaret Sports Inc in Mammoth Lakes, CA
3325 Main St, #2 Box 3939
Mammoth Lakes, CA 93546
Business Industry:
Sporting Goods Stores
NAICS code 451110
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: New Business or 2 years or less
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Mammoth Lakes
In the Mammoth Lakes area, 12 businesses in the "Sporting Goods Stores" industry received a PPP loan. These local businesses reported an average of 24 employees (compared to this company's 6) and received an average PPP loan of $144,605 (compared to this company's $62,037).
Similar Nearby Businesses Who Received PPP Funding:
Footloose, Incroporated
Mammoth Lakes, CA
Elevation Sierra Adventure Essentials, Inc
Lone Pine, CA
Brians Bicycles
Mammoth Lakes, CA
Freetime Ventures Incorporated
Mammoth Lakes, CA
Get Outdoors 365
Mammoth Lakes, CA
Hope It Floats, Inc
Mammoth Lakes, CA
Footloose Incorporated
Mammoth Lakes, CA
ML Monkeybar, Inc
Mammoth Lakes, CA
Industry PPP Comparison Statistics
Nationwide, 13,747 businesses in the "Sporting Goods Stores" industry received a total of $736.23M 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, 33% higher than Minaret Sports Inc's reported 6 employees, and received an average PPP loan of $53,556, 14% lower than this company's loan of $62,037.
FederalPay's PPP Information Policy
Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.
All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
Footnotes & Information
1. Estimations for informational purposes only. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.
2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.
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