PPP Loan Data — Trailhead Biosystems Inc, Cleveland, OH
Trailhead Biosystems Inc
Location: Cleveland, OHTweet This • Search All PPP Data
Trailhead Biosystems Inc is a corporation located at 10000 Cedar Avenue in Cleveland, Ohio that received a Coronavirus-related PPP loan from the SBA of $24,933.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:KeyBank National Association
Trailhead Biosystems Inc in Cleveland, OH received a Paycheck Protection Loan of $24,933 through KeyBank 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 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, Trailhead Biosystems Inc's 2019 payroll expenses are estimated to be at least $119,678.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $39,893 per employee1
Reported PPP Proceed Usage:
On the PPP application, Trailhead Biosystems Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,933
Business Information - Trailhead Biosystems Inc in Cleveland, OH
10000 Cedar Avenue
Cleveland, OH 44106
Research and Development in Biotechnology (except Nanobiotechnology)
NAICS code 541714
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Cleveland
In the Cleveland area, 10 businesses in the "Research and Development in Biotechnology (except Nanobiotechnology)" industry received a PPP loan. These local businesses reported an average of 9 employees (compared to this company's 3) and received an average PPP loan of $115,940 (compared to this company's $24,933).
Similar Nearby Businesses Who Received PPP Funding:
Covariance Biosciences DBA Agriplex Genomics
NEO Proteomics Inc
Novelmed Therapeutics, Inc
Cellprint Biotechnology, LLC
Industry PPP Comparison Statistics
Nationwide, 3,364 businesses in the "Research and Development in Biotechnology (except Nanobiotechnology)" industry received a total of $568.09M 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, 300% higher than Trailhead Biosystems Inc's reported 3 employees, and received an average PPP loan of $168,873, 577% higher than this company's loan of $24,933.
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