PPP Loan Data — Trakstar Inc, Cherry Hill, NJ
Trakstar Inc is a corporation located at 1117 Harvest Road in Cherry Hill, New Jersey that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in June, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Republic First Bank d/b/a Republic Bank
Trakstar Inc in Cherry Hill, NJ received a Paycheck Protection Loan of $25,000 through Republic First Bank d/b/a Republic Bank, which was approved in June, 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 April, 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, Trakstar Inc's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Trakstar Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Trakstar Inc in Cherry Hill, NJ
1117 Harvest Road
Cherry Hill, NJ 8002
NAICS code 332510
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Cherry Hill
In the Cherry Hill area, 2 businesses in the "Hardware Manufacturing" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 2) and received an average PPP loan of $29,565 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Cutler Homes Inc
Cherry Hill, NJ
Industry PPP Comparison Statistics
Nationwide, 1,100 businesses in the "Hardware Manufacturing" industry received a total of $239.47M 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 20 employees, 900% higher than Trakstar Inc's reported 2 employees, and received an average PPP loan of $217,703, 771% higher than this company's loan of $25,000.
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Footnotes & Information
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