PPP Loan Data — The Royal Family Of Gyms LLC DBA Gymtyme Or Relm Wear, Lockport, IL
The Royal Family Of Gyms LLC DBA Gymtyme Or Relm Wear is a limited liability company (LLC) located at 1449 Caton Farm Rd in Lockport, Illinois that received a Coronavirus-related PPP loan from the SBA of $25,380.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:JPMorgan Chase Bank, National Association
The Royal Family Of Gyms LLC DBA Gymtyme Or Relm Wear in Lockport, IL received a Paycheck Protection Loan of $25,380 through JPMorgan Chase Bank, National Association, which was approved in May, 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, The Royal Family Of Gyms LLC DBA Gymtyme Or Relm Wear's 2019 payroll expenses are estimated to be at least $121,824.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $20,304 per employee1
Reported PPP Proceed Usage:
On the PPP application, The Royal Family Of Gyms LLC DBA Gymtyme Or Relm Wear reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $20,304
- Utilities: $5,076
Business Information - The Royal Family Of Gyms LLC DBA Gymtyme Or Relm Wear in Lockport, IL
1449 Caton Farm Rd
Lockport, IL 60441
Fitness and Recreational Sports Centers
NAICS code 713940
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Lockport
In the Lockport area, 24 businesses in the "Fitness and Recreational Sports Centers" industry received a PPP loan. These local businesses reported an average of 17 employees (compared to this company's 6) and received an average PPP loan of $32,666 (compared to this company's $25,380).
Similar Nearby Businesses Who Received PPP Funding:
Lockport Fitness And Massage Inc. DBA Lockport Wellness Clin
Elite Sports Management Inc - Eaa5449
Gopolar Cryotherapy Inc
Fitness Premier Of Bourbonnais LLC
Daniel Gustin Personal Training, LLC
Gladiador Brazilian Jiu Jitsu
Industry PPP Comparison Statistics
Nationwide, 62,038 businesses in the "Fitness and Recreational Sports Centers" industry received a total of $2.97B 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 12 employees, 100% higher than The Royal Family Of Gyms LLC DBA Gymtyme Or Relm Wear's reported 6 employees, and received an average PPP loan of $47,823, 88% higher than this company's loan of $25,380.
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Footnotes & Information
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