PPP Loan Data — Monkeysports Inc, Allen, TX
Monkeysports Inc is a corporation located at 105 W Bethany Dr in Allen, Texas that received a Coronavirus-related PPP loan from the SBA of $1,699,000.00 in January, 2021.
PPP Loan Information
Loan Status:Ongoing Loan
Monkeysports Inc in Allen, TX received a Paycheck Protection Loan of $1.7M through MidFirst Bank, which was approved in January, 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, Monkeysports Inc's 2019 payroll expenses are estimated to be at least $8.16M.
Based on their reported 194 jobs retained, this equals an estimated average yearly compensation of $42,037 per employee1
Reported PPP Proceed Usage:
On the PPP application, Monkeysports Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,698,997
- Utilities: $1
Business Information - Monkeysports Inc in Allen, TX
105 W Bethany Dr
Allen, TX 75013
Sporting Goods Stores
NAICS code 451110
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Allen
In the Allen area, 3 businesses in the "Sporting Goods Stores" industry received a PPP loan. These local businesses reported an average of 186 employees (compared to this company's 194) and received an average PPP loan of $1,413,678 (compared to this company's $1.7M).
Similar Nearby Businesses Who Received PPP Funding:
Monkeysports Capital LLC
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, 96% lower than Monkeysports Inc's reported 194 employees, and received an average PPP loan of $53,367, 97% lower than this company's loan of $1.7M.
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Footnotes & Information
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