PPP Loan Data — Transpacific Tax Advisors LLC, Sparta, NJ
Transpacific Tax Advisors LLC is a limited liability company (LLC) located at 12 East Shore Trail in Sparta, New Jersey that received a Coronavirus-related PPP loan from the SBA of $24,919.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:First Hope Bank, A National Banking Association
Transpacific Tax Advisors LLC in Sparta, NJ received a Paycheck Protection Loan of $24,919 through First Hope Bank, A National Banking Association, which was approved in April, 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, Transpacific Tax Advisors LLC's 2019 payroll expenses are estimated to be at least $119,611.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $59,806 per employee1
Reported PPP Proceed Usage:
On the PPP application, Transpacific Tax Advisors LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $19,935
- Utilities: $2,492
- Mortgage Interest: $2,492
Business Information - Transpacific Tax Advisors LLC in Sparta, NJ
12 East Shore Trail
Sparta, NJ 7871
Tax Preparation Services
NAICS code 541213
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Sparta
In the Sparta area, 3 businesses in the "Tax Preparation Services" 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 $25,245 (compared to this company's $24,919).
Similar Nearby Businesses Who Received PPP Funding:
Saba Associates LLC
Industry PPP Comparison Statistics
Nationwide, 50,853 businesses in the "Tax Preparation Services" industry received a total of $1.1B 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 3 employees, 50% higher than Transpacific Tax Advisors LLC's reported 2 employees, and received an average PPP loan of $21,684, 13% lower than this company's loan of $24,919.
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Footnotes & Information
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