PPP Loan Data — Thai On The Fly, Westford, MA
Thai On The Fly is a limited liability company (LLC) located at 439 Littleton Rd,acorn Plaza, Suite 4 in Westford, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $25,362.00 in April, 2020.
The company has reported itself as an Asian male owned business, and employed at least five people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Cross River Bank
Thai On The Fly in Westford, MA received a Paycheck Protection Loan of $25,362 through Cross River 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 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, Thai On The Fly's 2019 payroll expenses are estimated to be at least $121,738.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $24,348 per employee1
Reported PPP Proceed Usage:
On the PPP application, Thai On The Fly reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,362
Business Information - Thai On The Fly in Westford, MA
439 Littleton Rd,acorn Plaza, Suite 4
Westford, MA 1886
NAICS code 722513
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: N
Rural / Urban: Urban
Similar Companies near Westford
In the Westford area, 33 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 9 employees (compared to this company's 5) and received an average PPP loan of $51,138 (compared to this company's $25,362).
Similar Nearby Businesses Who Received PPP Funding:
Wall Street Donuts Inc
Jean Donuts, LLC
Marions Fried Dough
337 Main Street Inc
Take Two One Ten Grill LLC
Saint Moses Inc
Janemarie Donuts, LLC
Industry PPP Comparison Statistics
Nationwide, 137,629 businesses in the "Limited-Service Restaurants" industry received a total of $13.9B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 21 employees, 320% higher than Thai On The Fly's reported 5 employees, and received an average PPP loan of $100,980, 298% higher than this company's loan of $25,362.
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Footnotes & Information
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