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PPP Loan Data — T3 Expo LLC, Lakeville, MA

ALERT: There are 2 PPP loans for a total of $8.21M in our database for businesses with the name "T3 Expo LLC" in Lakeville, MA. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for T3 Expo LLC
MA

T3 Expo LLC

Entity: Limited Liability Company (LLC)

Industry: Convention and Trade Show Organizers

Location: Lakeville, MA

Search All PPP Data

T3 Expo LLC is a limited liability company (LLC) located at 8 Lakeville Business Park in Lakeville, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in February, 2021.

The company has reported itself as a White male owned business, and employed at least 152 people during the applicable loan loan period.

$ PPP Loan Information
Loan #1315488505

Loan Size:

$2M

Jobs Retained:

152

Loan Approved:

2021-02-18

Loan Status:

Ongoing Loan

Lender:

Eastern Bank

T3 Expo LLC in Lakeville, MA received a Paycheck Protection Loan of $2M through Eastern Bank, which was approved in February, 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 More
Understanding 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 More

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, T3 Expo LLC's 2019 payroll expenses are estimated to be at least $9.6M.

Based on their reported 152 jobs retained, this equals an estimated average yearly compensation of $63,158 per employee1

Reported PPP Proceed Usage:

On the PPP application, T3 Expo LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,999,995
  • Utilities: $1
Because the loan received by T3 Expo LLC is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - T3 Expo LLC in Lakeville, MA

T3 Expo LLC
8 Lakeville Business Park
Lakeville, MA 2347

Business Industry:
Convention and Trade Show Organizers
NAICS code 561920

Business Owner Demographics

Race: White

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Plymouth County, MA — SBA Office 0101 — Congressional District: MA-04

Similar Companies near Lakeville

In the Lakeville area, 2 businesses in the "Convention and Trade Show Organizers" industry received a PPP loan. These local businesses reported an average of 111 employees (compared to this company's 152) and received an average PPP loan of $4,104,557 (compared to this company's $2M).

Similar Nearby Businesses Who Received PPP Funding:

T3 Expo, LLC
Lakeville, MA

$6.21M PPP Loan

Industry PPP Comparison Statistics

Nationwide, 6,960 businesses in the "Convention and Trade Show Organizers" industry received a total of $610.51M 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, 95% lower than T3 Expo LLC's reported 152 employees, and received an average PPP loan of $87,717, 96% lower than this company's loan of $2M.

SBA PPP loan data, payroll data, and salaries for T3 Expo, LLC
MA

T3 Expo, LLC

Entity: Limited Liability Company (LLC)

Industry: Convention and Trade Show Organizers

Location: Lakeville, MA

Search All PPP Data

T3 Expo, LLC is a limited liability company (LLC) located at 8 Lakeville Business Park in Lakeville, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $6,209,113.00 in April, 2020.

The company has reported itself as a White owned business, and employed at least 70 people during the applicable loan loan period.

$ PPP Loan Information
Loan #6118267005

Loan Size:

$6.21M
Likely Employment Reduction3

Jobs Retained:

70

Loan Approved:

2020-04-06

Loan Status:

Ongoing Loan

Lender:

Eastern Bank

T3 Expo, LLC in Lakeville, MA received a Paycheck Protection Loan of $6.21M through Eastern 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.

The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 70 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.

The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 298. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.

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 More
Understanding 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 More

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, T3 Expo, LLC's 2019 payroll expenses are estimated to be at least $29.8M (not accounting for salary amounts > $100k).

Because the 70 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.

Reported PPP Proceed Usage:

On the PPP application, T3 Expo, LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $6,209,113
Because the loan received by T3 Expo, LLC is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - T3 Expo, LLC in Lakeville, MA

T3 Expo, LLC
8 Lakeville Business Park
Lakeville, MA 2347

Business Industry:
Convention and Trade Show Organizers
NAICS code 561920

Business Owner Demographics

Race: White

Ethnicity: Not Hispanic or Latino

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Plymouth County, MA — SBA Office 0101 — Congressional District: MA-04

Similar Companies near Lakeville

In the Lakeville area, 2 businesses in the "Convention and Trade Show Organizers" industry received a PPP loan. These local businesses reported an average of 111 employees (compared to this company's 70) and received an average PPP loan of $4,104,557 (compared to this company's $6.21M).

Similar Nearby Businesses Who Received PPP Funding:

T3 Expo LLC
Lakeville, MA

$2M PPP Loan

Industry PPP Comparison Statistics

Nationwide, 6,960 businesses in the "Convention and Trade Show Organizers" industry received a total of $610.51M 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, 89% lower than T3 Expo, LLC's reported 70 employees, and received an average PPP loan of $87,717, 99% lower than this company's loan of $6.21M.

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.

Search FederalPay's Full PPP Loan Database

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.

3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.


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Source: www.federalpay.org/paycheck-protection-program/t3-expo-llc-lakeville-ma