PPP Loan Data — Tiger Dang Inc, Lowell, MA
Tiger Dang Inc is a corporation located at 475 Chelmsford St in Lowell, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $47,100.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Enterprise Bank and Trust Company
Tiger Dang Inc in Lowell, MA received a Paycheck Protection Loan of $47,100 through Enterprise Bank and Trust Company, which was approved in May, 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 June, 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, Tiger Dang Inc's 2019 payroll expenses are estimated to be at least $226,080.
Based on their reported 18 jobs retained, this equals an estimated average yearly compensation of $12,560 per employee1
Reported PPP Proceed Usage:
On the PPP application, Tiger Dang Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $35,400
- Utilities: $3,000
- Rent: $8,700
Business Information - Tiger Dang Inc in Lowell, MA
475 Chelmsford St
Lowell, MA 1851
NAICS code 722511
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Lowell
In the Lowell area, 80 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 11 employees (compared to this company's 18) and received an average PPP loan of $64,118 (compared to this company's $47,100).
Similar Nearby Businesses Who Received PPP Funding:
MA & W Inc
LAO De Cafe LLC
ATP Restaurant Inc
Tavern In The Square Lowell LLC
Big Poke LLC
Garys Restaurant & Bar Inc
Lucky Lantern Inc
Industry PPP Comparison Statistics
Nationwide, 328,914 businesses in the "Full-Service Restaurants" industry received a total of $42.6B in PPP loans. These businesses account for 3% of total PPP applications submitted, and received 5% of the total PPP funding allocated.
PPP recipients in this industry report an average of 22 employees, 22% higher than Tiger Dang Inc's reported 18 employees, and received an average PPP loan of $129,504, 175% higher than this company's loan of $47,100.
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Footnotes & Information
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