PPP Loan Data — Professional Organ & Piano Studio LLC, Prescott, AZ
Professional Organ & Piano Studio LLC is a limited liability company (LLC) located at 1801 Meadowbrook Rd in Prescott, Arizona that received a Coronavirus-related PPP loan from the SBA of $25,335.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:BMO Harris Bank National Association
Professional Organ & Piano Studio LLC in Prescott, AZ received a Paycheck Protection Loan of $25,335 through BMO Harris Bank National Association, 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, Professional Organ & Piano Studio LLC's 2019 payroll expenses are estimated to be at least $121,608.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $20,268 per employee1
Reported PPP Proceed Usage:
On the PPP application, Professional Organ & Piano Studio LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,335
Business Information - Professional Organ & Piano Studio LLC in Prescott, AZ
1801 Meadowbrook Rd
Prescott, AZ 86303
Musical Instrument and Supplies Stores
NAICS code 451140
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Prescott
In the Prescott area, 3 businesses in the "Musical Instrument and Supplies Stores" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 6) and received an average PPP loan of $15,612 (compared to this company's $25,335).
Similar Nearby Businesses Who Received PPP Funding:
Kurt's Amps & Keyboards
Industry PPP Comparison Statistics
Nationwide, 4,420 businesses in the "Musical Instrument and Supplies Stores" industry received a total of $235.82M 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 Professional Organ & Piano Studio LLC's reported 6 employees, and received an average PPP loan of $53,352, 111% higher than this company's loan of $25,335.
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Footnotes & Information
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