PPP Loan Data — Musical Concepts, Incorporated, Brentwood, TN
Musical Concepts, Incorporated
Location: Brentwood, TNTweet This • Search All PPP Data
Musical Concepts, Incorporated is a corporation located at 7019 Tartan Dr in Brentwood, Tennessee that received a Coronavirus-related PPP loan from the SBA of $24,975.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Musical Concepts, Incorporated in Brentwood, TN received a Paycheck Protection Loan of $24,975 through Pinnacle 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, Musical Concepts, Incorporated's 2019 payroll expenses are estimated to be at least $119,880.
Based on their reported 7 jobs retained, this equals an estimated average yearly compensation of $17,126 per employee1
Reported PPP Proceed Usage:
On the PPP application, Musical Concepts, Incorporated reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,975
Business Information - Musical Concepts, Incorporated in Brentwood, TN
7019 Tartan Dr
Brentwood, TN 37027
Agents and Managers for Artists, Athletes, Entertainers, and Other Public Figures
NAICS code 711410
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Brentwood
In the Brentwood area, 34 businesses in the "Agents and Managers for Artists, Athletes, Entertainers, and Other Public Figures" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 7) and received an average PPP loan of $22,018 (compared to this company's $24,975).
Similar Nearby Businesses Who Received PPP Funding:
Artist Garden Entertainment, Inc
Chad D Jensen
Vision Productions, Inc. (Qualified Under Assumed Name)
Industry PPP Comparison Statistics
Nationwide, 18,430 businesses in the "Agents and Managers for Artists, Athletes, Entertainers, and Other Public Figures" industry received a total of $593.92M 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, 57% lower than Musical Concepts, Incorporated's reported 7 employees, and received an average PPP loan of $32,226, 29% higher than this company's loan of $24,975.
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Footnotes & Information
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