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PPP Loan Data — University Tees Inc,
Lakewood, OH
University Tees Inc
Entity: Corporation
Industry: Electronic Shopping and Mail-Order Houses
Location: Lakewood, OH
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University Tees Inc is a corporation located at 13000 Athens Ave Ste 210 in Lakewood, Ohio that received a Coronavirus-related PPP loan from the SBA of $1,705,300.00 in January, 2021.
The company has reported itself as a White male owned business, and employed at least 181 people during the applicable loan loan period.
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PPP Loan Information
Loan #3177808309
Loan Size:
Jobs Retained:
181Loan Approved:
2021-01-21Loan Status:
Ongoing LoanLender:
First National Bank of PennsylvaniaUniversity Tees Inc in Lakewood, OH received a Paycheck Protection Loan of $1.71M through First National Bank of Pennsylvania, which was approved in January, 2021.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
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, University Tees Inc's 2019 payroll expenses are estimated to be at least $8.19M.
Based on their reported 181 jobs retained, this equals an estimated average yearly compensation of $45,223 per employee1
Reported PPP Proceed Usage:
On the PPP application, University Tees Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,705,298
- Utilities: $1
Business Information - University Tees Inc in Lakewood, OH
13000 Athens Ave Ste 210
Lakewood, OH 44107
Business Industry:
Electronic Shopping and Mail-Order Houses
NAICS code 454110
Business Owner Demographics
Race: White
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Lakewood
In the Lakewood area, 7 businesses in the "Electronic Shopping and Mail-Order Houses" industry received a PPP loan. These local businesses reported an average of 53 employees (compared to this company's 181) and received an average PPP loan of $523,124 (compared to this company's $1.71M).
Similar Nearby Businesses Who Received PPP Funding:
University Tees, Inc
Lakewood, OH
Social Eyez LLC
Cleveland Heights, OH
Real Estate Love LLC
Cleveland Hts, OH
Social Eyez LLC
Cleveland Heights, OH
Living Rich
Cleveland, OH
Getphonefix I LLC
Lakewood, OH
Industry PPP Comparison Statistics
Nationwide, 15,801 businesses in the "Electronic Shopping and Mail-Order Houses" industry received a total of $824.29M 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 5 employees, 97% lower than University Tees Inc's reported 181 employees, and received an average PPP loan of $52,167, 97% lower than this company's loan of $1.71M.
University Tees, Inc
Entity: Corporation
Industry: Electronic Shopping and Mail-Order Houses
Location: Lakewood, OH
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•
Search All PPP Data
University Tees, Inc is a corporation located at 13000 Athens Ave Ste 210 in Lakewood, Ohio that received a Coronavirus-related PPP loan from the SBA of $1,705,300.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 169 people during the applicable loan loan period.
$
PPP Loan Information
Loan #4713597005
Loan Size:
Jobs Retained:
169Loan Approved:
2020-04-04Loan Status:
Paid in Full or ForgivenLender:
First National Bank of PennsylvaniaUniversity Tees, Inc in Lakewood, OH received a Paycheck Protection Loan of $1.71M through First National Bank of Pennsylvania, 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 December, 2020.
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, University Tees, Inc's 2019 payroll expenses are estimated to be at least $8.19M.
Based on their reported 169 jobs retained, this equals an estimated average yearly compensation of $48,435 per employee1
Reported PPP Proceed Usage:
On the PPP application, University Tees, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,278,975
- Rent: $426,325
Business Information - University Tees, Inc in Lakewood, OH
13000 Athens Ave Ste 210
Lakewood, OH 44107
Business Industry:
Electronic Shopping and Mail-Order Houses
NAICS code 454110
Business Owner Demographics
Race: White
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Lakewood
In the Lakewood area, 7 businesses in the "Electronic Shopping and Mail-Order Houses" industry received a PPP loan. These local businesses reported an average of 53 employees (compared to this company's 169) and received an average PPP loan of $523,124 (compared to this company's $1.71M).
Similar Nearby Businesses Who Received PPP Funding:
University Tees Inc
Lakewood, OH
Social Eyez LLC
Cleveland Heights, OH
Real Estate Love LLC
Cleveland Hts, OH
Social Eyez LLC
Cleveland Heights, OH
Living Rich
Cleveland, OH
Getphonefix I LLC
Lakewood, OH
Industry PPP Comparison Statistics
Nationwide, 15,801 businesses in the "Electronic Shopping and Mail-Order Houses" industry received a total of $824.29M 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 5 employees, 97% lower than University Tees, Inc's reported 169 employees, and received an average PPP loan of $52,167, 97% lower than this company's loan of $1.71M.
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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