Sporting Goods, Hobby, and Musical Instrument Retailers

Businesses and organizations in the Sporting Goods, Hobby, and Musical Instrument Retailers industry (NAICS code 4511, part of the Retail Trade sector) received 28,578 PPP loans totaling $1.26B during the COVID-19 pandemic.

The average loan for this industry was $43,921 — below the national PPP average of approximately $67,000. This reflects the small business character of most participants in this industry, typically sole proprietors and micro-businesses with modest payroll obligations.

96.3% of loans in this industry were forgiven — totaling $1.23B. To qualify for forgiveness, borrowers had to demonstrate that they maintained headcount and compensation levels and used at least 60% of loan proceeds for payroll expenses.

Notable recipients in this industry include SAM ASH MUSIC CORPORATION of HICKSVILLE, NY ($10,000,000); TRANSPAK INC of TUALATIN, OR ($7,898,580); and AMERICAN MUSICAL SUPPLY, INC. of OAKLAND, NJ ($5,769,000).

The loan amount distribution for this industry shows a more even spread across loan sizes, suggesting a mix of small and mid-sized businesses. Because borrower names are withheld for loans under $150,000, a substantial portion of recipients in this industry may not appear by name in this dataset.

As part of the broader Retail Trade sector — sporting goods, hobby, book, music, general merchandise, and nonstore retailers. — businesses in NAICS 4511 were particularly reliant on PPP assistance to bridge the gap between declining revenues and fixed overhead obligations during the shutdown period.