PPP Loan Data — Turtle Reef LLC, Pittsburgh, PA
Turtle Reef LLC is a limited liability company (LLC) located at 12806 Frankstown Rd in Pittsburgh, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $25,450.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:S & T Bank
Turtle Reef LLC in Pittsburgh, PA received a Paycheck Protection Loan of $25,450 through S & T Bank, 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, Turtle Reef LLC's 2019 payroll expenses are estimated to be at least $122,160.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,720 per employee1
Reported PPP Proceed Usage:
On the PPP application, Turtle Reef LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,450
Business Information - Turtle Reef LLC in Pittsburgh, PA
12806 Frankstown Rd
Pittsburgh, PA 15235
Insurance Agencies and Brokerages
NAICS code 524210
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Pittsburgh
In the Pittsburgh area, 41 businesses in the "Insurance Agencies and Brokerages" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 3) and received an average PPP loan of $48,961 (compared to this company's $25,450).
Similar Nearby Businesses Who Received PPP Funding:
Ellis Insurance Agency Inc
Triangle Benefit Services Inc
The Selario Agency Inc
BR Bogdan Allstate LLC
Pleasant Hills, PA
Kevin T Laskowski, LLC
Gene L. Ricci & Associates, Inc
Pine - Madden Insurance Agency Inc
BL Warnick Insurance And Financial Services LLC
Industry PPP Comparison Statistics
Nationwide, 149,532 businesses in the "Insurance Agencies and Brokerages" industry received a total of $5.87B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 4 employees, 33% higher than Turtle Reef LLC's reported 3 employees, and received an average PPP loan of $39,254, 54% higher than this company's loan of $25,450.
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Footnotes & Information
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