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PPP Loan Data — PF Growth Partners, LLC,
Lutherville Timonium, MD
FRANCHISE
MDPF Growth Partners, LLC
Entity: Limited Liability Company (LLC)
Industry: Fitness and Recreational Sports Centers
Franchise: Planet Fitness
Location: Lutherville Timonium, MD
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PF Growth Partners, LLC is a limited liability company (LLC) located at 212 W Padonia Rd in Lutherville Timonium, Maryland that received a Coronavirus-related PPP loan from the SBA of $5,158,500.00 in April, 2020. This business is a Planet Fitness franchise.
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PPP Loan Information
Loan #2275697109
Loan Size:
Jobs Retained:
500Loan Approved:
2020-04-10Loan Status:
Ongoing LoanLender:
Fifth Third BankPF Growth Partners, LLC in Lutherville Timonium, MD received a Paycheck Protection Loan of $5.16M through Fifth Third 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, PF Growth Partners, LLC's 2019 payroll expenses are estimated to be at least $24.76M.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $49,522 per employee1
Reported PPP Proceed Usage:
On the PPP application, PF Growth Partners, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $5,158,500
Business Information - PF Growth Partners, LLC in Lutherville Timonium, MD
212 W Padonia Rd
Lutherville Timonium, MD 21093
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: N
Rural / Urban: Urban
Businesses Using Same Address:
There are 3 other businesses that received a PPP loan registered to the same address as PF Growth Partners, LLC.
Brick Bodies Fitness Services Inc
Fitness and Recreational Sports Centers
Brick Bodies Fitness Services, Inc
Fitness and Recreational Sports Centers
PF Growth Partners LLC
Fitness and Recreational Sports Centers
Similar Companies near Lutherville Timonium
In the Lutherville Timonium area, 17 businesses in the "Fitness and Recreational Sports Centers" industry received a PPP loan. These local businesses reported an average of 91 employees (compared to this company's 500) and received an average PPP loan of $622,745 (compared to this company's $5.16M).
Similar Nearby Businesses Who Received PPP Funding:
Core Training With Becca LLC
Timonium, MD
Sweat Performance, LLC
Lutherville-timonium, MD
Aqua Salon & Spa, Inc
Lutherville, MD
Core Cycle Studios, Inc
Timonium, MD
Greater Baltimore Tennis Patrons Assoc
Lutherville, MD
Lbss, LLC
Lutherville Timonium, MD
MAC Express, LLC
Lutherville Timonium, MD
Well Within, LLC
Lutherville, MD
Sweat Performance LLC
Timonium, MD
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, 98% lower than PF Growth Partners, LLC's reported 500 employees, and received an average PPP loan of $48,172, 99% lower than this company's loan of $5.16M.
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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