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PPP Loan Data — Trimaxion Fine Arts LLC,
Long Island City, NY
Trimaxion Fine Arts LLC
Entity: Limited Liability Company (LLC)
Industry: General Warehousing and Storage
Location: Long Island City, NY
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Trimaxion Fine Arts LLC is a limited liability company (LLC) located at 2976 Northern Blvd in Long Island City, New York that received a Coronavirus-related PPP loan from the SBA of $72,855.00 in April, 2021.
$
PPP Loan Information
Loan #5417048708
Loan Size:
Jobs Retained:
11Loan Approved:
2021-04-02Loan Status:
Paid in Full or ForgivenLender:
JPMorgan Chase Bank, National AssociationTrimaxion Fine Arts LLC in Long Island City, NY received a Paycheck Protection Loan of $72,855 through JPMorgan Chase Bank, National Association, which was approved in April, 2021.
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 January, 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.
Read MoreUnderstanding 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.
Read MoreBased 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, Trimaxion Fine Arts LLC's 2019 payroll expenses are estimated to be at least $349,704.
Based on their reported 11 jobs retained, this equals an estimated average yearly compensation of $31,791 per employee1
Reported PPP Proceed Usage:
On the PPP application, Trimaxion Fine Arts LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $72,850
- Utilities: $1
Business Information - Trimaxion Fine Arts LLC in Long Island City, NY
2976 Northern Blvd
Long Island City, NY 11101
Business Industry:
General Warehousing and Storage
NAICS code 493110
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
Businesses Using Same Address:
There are 2 other businesses that received a PPP loan registered to the same address as Trimaxion Fine Arts LLC.
29-76 Realty Co LLC
Offices of Real Estate Agents and Brokers
The Fortune Society,Inc
Other Social Advocacy Organizations
Similar Companies near Long Island City
In the Long Island City area, 5 businesses in the "General Warehousing and Storage" industry received a PPP loan. These local businesses reported an average of 9 employees (compared to this company's 11) and received an average PPP loan of $91,398 (compared to this company's $72,855).
Similar Nearby Businesses Who Received PPP Funding:
Manber Trucking Inc
Long Island City, NY
Abax Services Corporation
Long Is City, NY
Nice Enterprise Corp
Long Is City, NY
Expedition Logistics Corp
Long Island City, NY
Industry PPP Comparison Statistics
Nationwide, 4,845 businesses in the "General Warehousing and Storage" industry received a total of $768.26M 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 18 employees, 64% higher than Trimaxion Fine Arts LLC's reported 11 employees, and received an average PPP loan of $158,568, 118% higher than this company's loan of $72,855.
Trimaxion Fine Arts LLC
Entity: Limited Liability Company (LLC)
Industry: Other Warehousing and Storage
Location: Long Island City, NY
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Trimaxion Fine Arts LLC is a limited liability company (LLC) located at 29-76 Northern Blvd. in Long Island City, New York that received a Coronavirus-related PPP loan from the SBA of $72,014.00 in May, 2020.
$
PPP Loan Information
Loan #8987737310
Loan Size:
Jobs Retained:
11Loan Approved:
2020-05-01Loan Status:
Paid in Full or ForgivenLender:
JPMorgan Chase Bank, National AssociationTrimaxion Fine Arts LLC in Long Island City, NY received a Paycheck Protection Loan of $72,014 through JPMorgan Chase Bank, National Association, 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 August, 2021.
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.
Read MoreUnderstanding 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.
Read MoreBased 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, Trimaxion Fine Arts LLC's 2019 payroll expenses are estimated to be at least $345,667.
Based on their reported 11 jobs retained, this equals an estimated average yearly compensation of $31,424 per employee1
Reported PPP Proceed Usage:
On the PPP application, Trimaxion Fine Arts LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $54,011
- Utilities: $9,002
- Rent: $9,002
Business Information - Trimaxion Fine Arts LLC in Long Island City, NY
29-76 Northern Blvd.
Long Island City, NY 11101
Business Industry:
Other Warehousing and Storage
NAICS code 493190
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
Similar Companies near Long Island City
In the Long Island City area, 3 businesses in the "Other Warehousing and Storage" industry received a PPP loan. These local businesses reported an average of 12 employees (compared to this company's 11) and received an average PPP loan of $167,738 (compared to this company's $72,014).
Similar Nearby Businesses Who Received PPP Funding:
Van Owners Purchasing Bureau, Inc
Long Island City, NY
Industry PPP Comparison Statistics
Nationwide, 1,592 businesses in the "Other Warehousing and Storage" industry received a total of $150.67M 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 11 employees, the same amount reported by Trimaxion Fine Arts LLC and received an average PPP loan of $94,641, 31% higher than this company's loan of $72,014.
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.
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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