PPP Loan Data — Travel Incorporated, Duluth, GA

Travel Incorporated

Entity: Corporation

Industry: Travel Agencies

Location: Duluth, GA

Travel Incorporated is a corporation located at 4355 River Green Parkway in Duluth, Georgia that received a Coronavirus-related PPP loan from the SBA of $4,100,400.00 in April, 2020.

$ PPP Loan Information
Loan #3422267104

Loan Size:

$4.1M

Jobs Retained:

255

Loan Approved:

2020-04-11

Loan Status:

Paid in Full or Forgiven

Lender:

Newtek Small Business Finance, Inc.

Travel Incorporated in Duluth, GA received a Paycheck Protection Loan of $4.1M through Newtek Small Business Finance, Inc., 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 March, 2022.

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.

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.

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, Travel Incorporated's 2019 payroll expenses are estimated to be at least $19.68M.

Based on their reported 255 jobs retained, this equals an estimated average yearly compensation of $77,184 per employee¹

Reported PPP Proceed Usage:

On the PPP application, Travel Incorporated reported intending to use the proceeds of their PPP loan for the following expenses:

Payroll: $4,100,400

Because the loan received by Travel Incorporated is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Travel Incorporated in Duluth, GA

Travel Incorporated
4355 River Green Parkway
Duluth, GA 30096

Business Industry:
Travel Agencies
NAICS code 561510

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

Gwinnett County, GA — SBA Office 0405 — Congressional District: GA-07

Similar Companies near Duluth

In the Duluth area, 33 businesses in the "Travel Agencies" industry received a PPP loan. These local businesses reported an average of 14 employees (compared to this company's 255) and received an average PPP loan of $164,341 (compared to this company's $4.1M).

Similar Nearby Businesses Who Received PPP Funding:

Asia Desk LTD
Duluth, GA

$22,567 PPP Loan

Woori Tour & Travel LLC
Duluth, GA

$7,300 PPP Loan

Bruce K Hillman
Duluth, GA

$1,413 PPP Loan

Zakat Alexander
Duluth, GA

$20,832 PPP Loan

The Travel Universe Inc
Duluth, GA

$17,787 PPP Loan

RIC LLC
Duluth, GA

$78,942 PPP Loan

Miles2Travel Inc
Johns Creek, GA

$19,137 PPP Loan

Wide Win USA Inc
Duluth, GA

$8,480 PPP Loan

GA Tour & More Inc
Duluth, GA

$4,000 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 20,716 businesses in the "Travel Agencies" industry received a total of $874.71M 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 4 employees, 98% lower than Travel Incorporated's reported 255 employees, and received an average PPP loan of $42,224, 99% lower than this company's loan of $4.1M.

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.

Search FederalPay's Full PPP Loan Database

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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