PPP Loan Data — Roy's Sport Shop, Watertown, SD
Roy's Sport Shop is a corporation located at 1513 9th Ave Se in Watertown, South Dakota that received a Coronavirus-related PPP loan from the SBA of $25,365.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least eight people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Great Western Bank
Roy's Sport Shop in Watertown, SD received a Paycheck Protection Loan of $25,365 through Great Western Bank, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in March, 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, Roy's Sport Shop's 2019 payroll expenses are estimated to be at least $121,752.
Based on their reported 8 jobs retained, this equals an estimated average yearly compensation of $15,219 per employee1
Reported PPP Proceed Usage:
On the PPP application, Roy's Sport Shop reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,365
Business Information - Roy's Sport Shop in Watertown, SD
1513 9th Ave Se
Watertown, SD 57201
Sporting Goods Stores
NAICS code 451110
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Watertown
In the Watertown area, 3 businesses in the "Sporting Goods Stores" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 8) and received an average PPP loan of $18,465 (compared to this company's $25,365).
Similar Nearby Businesses Who Received PPP Funding:
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, the same amount reported by Roy's Sport Shop and received an average PPP loan of $53,367, 110% higher than this company's loan of $25,365.
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Footnotes & Information
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