PPP Loan Data — TCT Wraps LLC, Hillsboro, OR
TCT Wraps LLC
Entity: Limited Liability Company (LLC)
Location: Hillsboro, ORTweet This • Search All PPP Data
TCT Wraps LLC is a limited liability company (LLC) located at 2900 Se Cornelius Pass Rd. Suite #338 in Hillsboro, Oregon that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
TCT Wraps LLC in Hillsboro, OR received a Paycheck Protection Loan of $25,000 through WebBank, 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 February, 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, TCT Wraps LLC's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, TCT Wraps LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - TCT Wraps LLC in Hillsboro, OR
2900 Se Cornelius Pass Rd. Suite #338
Hillsboro, OR 97123
Automotive Body, Paint, and Interior Repair and Maintenance
NAICS code 811121
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Hillsboro
In the Hillsboro area, 19 businesses in the "Automotive Body, Paint, and Interior Repair and Maintenance" industry received a PPP loan. These local businesses reported an average of 7 employees (compared to this company's 2) and received an average PPP loan of $68,257 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Colorwheels Northwest Corporation
Scotties Autobody Repair Inc
Reedville Body & Paint Co
Andrews Auto Body Excellence
Integrity Bodyworks LLC
Evers Auto Body And Painting Inc
Hillsboro Body & Paint
Industry PPP Comparison Statistics
Nationwide, 41,993 businesses in the "Automotive Body, Paint, and Interior Repair and Maintenance" industry received a total of $2.54B 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 6 employees, 200% higher than TCT Wraps LLC's reported 2 employees, and received an average PPP loan of $60,493, 142% higher than this company's loan of $25,000.
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