TRIPLE J ENTERPRISES, INC.
PPP Loan approved Apr 6, 2020 through Bank of Guam
Borrower Information
Business Details
Lender Information
Self-Reported Demographics
How Proceeds Were Used
| Category | Amount | % of Total Proceeds |
|---|---|---|
| Payroll | $1,420,654.00 | 83.5% |
| Utilities | $70,500.00 | 4.1% |
| Rent / Lease | $112,646.00 | 6.6% |
| Mortgage Interest | $97,200.00 | 5.7% |
About This Loan
TRIPLE J ENTERPRISES, INC. received a PPP loan of $1,701,000 approved on Apr 6, 2020. The loan was originated by Bank of Guam.
TRIPLE J ENTERPRISES, INC. is a corporation located in TAMUNING, Guam. At the time of the application, the business was described as "existing or more than 2 years old". It is a franchise location of Honda Automobile Division - Dealer Sales and Service Agreement.
The business operates in the Automobile Dealers industry (NAICS 441110), part of the Retail Trade sector of the economy. The applicant reported 244 jobs as retained through this loan.
The SBA forgave $1,719,920.71 of this loan — 101.1% of the total approved amount, with forgiveness recorded on May 27, 2021. This means the borrower was not required to repay this portion, having satisfied the PPP's eligibility criteria for forgiveness, including maintaining payroll levels and using the funds for qualified expenses.
According to the SBA's records, the proceeds of this loan were allocated as follows: $1,420,654 to payroll, $70,500 to utilities, $112,646 to rent or lease obligations, $97,200 to mortgage interest. The payroll component represents 83.5% of disclosed proceeds, consistent with the program's requirement that at least 60% of loan funds be used for payroll costs to qualify for full forgiveness.
This loan is one of millions approved nationwide during the COVID-19 pandemic. To explore other recipients in Guam, visit the Guam page. To compare this loan with others in the same industry, see the Automobile Dealers industry page.