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PPP Loan Data — O2 Holdings LLC,
Raleigh, NC
O2 Holdings LLC
Entity: Limited Liability Company (LLC)
Industry: Fitness and Recreational Sports Centers
Location: Raleigh, NC
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O2 Holdings LLC is a limited liability company (LLC) located at 1025 Wade Ave in Raleigh, North Carolina that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in January, 2021.
$
PPP Loan Information
Loan #5737468301
Loan Size:
Jobs Retained:
184Loan Approved:
2021-01-25Loan Status:
Ongoing LoanLender:
Dogwood State BankO2 Holdings LLC in Raleigh, NC received a Paycheck Protection Loan of $2M through Dogwood State Bank, 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, O2 Holdings LLC's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 184 jobs retained, this equals an estimated average yearly compensation of $52,174 per employee1
Reported PPP Proceed Usage:
On the PPP application, O2 Holdings LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,994
- Utilities: $1
Business Information - O2 Holdings LLC in Raleigh, NC
1025 Wade Ave
Raleigh, NC 27605
Business Industry:
Fitness and Recreational Sports Centers
NAICS code 713940
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: Y
Rural / Urban: Urban
Businesses Using Same Address:
There are 4 other businesses that received a PPP loan registered to the same address as O2 Holdings LLC.
Xtra Crispy LLC
Other Technical and Trade Schools
Midtown Yoga, LLC
Other Technical and Trade Schools
Pbdb, LLC
Beauty Salons
MDO Management Group LLC
Administrative Management and General Management Consulting Services
Similar Companies near Raleigh
In the Raleigh area, 34 businesses in the "Fitness and Recreational Sports Centers" industry received a PPP loan. These local businesses reported an average of 27 employees (compared to this company's 184) and received an average PPP loan of $181,432 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Jellybeans LLC
Raleigh, NC
Burn Boot Camp North Raleigh LLC
Raleigh, NC
Wolf Fitness LLC
Raleigh, NC
Midtown Yoga LLC
Raleigh, NC
Relentless Virtuosity, LLC
Raleigh, NC
Cary Ice House LLC
Raleigh, NC
NRG NC LLC
Raleigh, NC
NC Fit Capital LLC
Raleigh, NC
Industry PPP Comparison Statistics
Nationwide, 61,280 businesses in the "Fitness and Recreational Sports Centers" industry received a total of $2.95B 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 12 employees, 93% lower than O2 Holdings LLC's reported 184 employees, and received an average PPP loan of $48,172, 98% lower than this company's loan of $2M.
O2 Holdings, LLC
Entity: Limited Liability Company (LLC)
Industry: Fitness and Recreational Sports Centers
Location: Raleigh, NC
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O2 Holdings, LLC is a limited liability company (LLC) located at 1025 Wade Ave in Raleigh, North Carolina that received a Coronavirus-related PPP loan from the SBA of $3,153,800.00 in April, 2020.
$
PPP Loan Information
Loan #7944707209
Loan Size:
Jobs Retained:
462Loan Approved:
2020-04-28Loan Status:
Ongoing LoanLender:
Dogwood State BankO2 Holdings, LLC in Raleigh, NC received a Paycheck Protection Loan of $3.15M through Dogwood State Bank, which was approved in April, 2020.
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, O2 Holdings, LLC's 2019 payroll expenses are estimated to be at least $15.14M.
Based on their reported 462 jobs retained, this equals an estimated average yearly compensation of $32,767 per employee1
Reported PPP Proceed Usage:
On the PPP application, O2 Holdings, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $3,153,800
Business Information - O2 Holdings, LLC in Raleigh, NC
1025 Wade Ave
Raleigh, NC 27605
Business Industry:
Fitness and Recreational Sports Centers
NAICS code 713940
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age:
LMI Zone: N
HUBZone: Y
Rural / Urban: Urban
Businesses Using Same Address:
There are 4 other businesses that received a PPP loan registered to the same address as O2 Holdings, LLC.
Xtra Crispy LLC
Other Technical and Trade Schools
Midtown Yoga, LLC
Other Technical and Trade Schools
Pbdb, LLC
Beauty Salons
MDO Management Group LLC
Administrative Management and General Management Consulting Services
Similar Companies near Raleigh
In the Raleigh area, 34 businesses in the "Fitness and Recreational Sports Centers" industry received a PPP loan. These local businesses reported an average of 27 employees (compared to this company's 462) and received an average PPP loan of $181,432 (compared to this company's $3.15M).
Similar Nearby Businesses Who Received PPP Funding:
Jellybeans LLC
Raleigh, NC
Burn Boot Camp North Raleigh LLC
Raleigh, NC
Wolf Fitness LLC
Raleigh, NC
Midtown Yoga LLC
Raleigh, NC
Relentless Virtuosity, LLC
Raleigh, NC
Cary Ice House LLC
Raleigh, NC
NRG NC LLC
Raleigh, NC
NC Fit Capital LLC
Raleigh, NC
Industry PPP Comparison Statistics
Nationwide, 61,280 businesses in the "Fitness and Recreational Sports Centers" industry received a total of $2.95B 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 12 employees, 97% lower than O2 Holdings, LLC's reported 462 employees, and received an average PPP loan of $48,172, 98% lower than this company's loan of $3.15M.
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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