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PPP Loan Data — Thinking Farther Inc, Cincinnati, OH

SBA PPP loan data, payroll data, and salaries for Thinking Farther Inc
OH

Thinking Farther Inc

Entity: Corporation

Industry: Other General Government Support

Location: Cincinnati, OH

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Thinking Farther Inc is a corporation located at 7325 English Garden Ln in Cincinnati, Ohio that received a Coronavirus-related PPP loan from the SBA of $25,300.00 in April, 2020.

$ PPP Loan Information
Loan #2543557208

Loan Size:

$25,300

Jobs Retained:

3

Loan Approved:

2020-04-16

Loan Status:

Paid in Full or Forgiven

Lender:

PNC Bank, National Association

Thinking Farther Inc in Cincinnati, OH received a Paycheck Protection Loan of $25,300 through PNC Bank, National Association, 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

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.

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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, Thinking Farther Inc's 2019 payroll expenses are estimated to be at least $121,440.

Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,480 per employee1

Reported PPP Proceed Usage:

On the PPP application, Thinking Farther Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $25,300

Business Information - Thinking Farther Inc in Cincinnati, OH

Thinking Farther Inc
7325 English Garden Ln
Cincinnati, OH 45230

Business Industry:
Other General Government Support
NAICS code 921190

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Hamilton County, OH — SBA Office 0593 — Congressional District: OH-02

Industry PPP Comparison Statistics

Nationwide, 1,022 businesses in the "Other General Government Support" industry received a total of $105.1M 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 11 employees, 267% higher than Thinking Farther Inc's reported 3 employees, and received an average PPP loan of $102,834, 306% higher than this company's loan of $25,300.

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.

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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.


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Source: www.federalpay.org/paycheck-protection-program/thinking-farther-inc-cincinnati-oh