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PPP Loan Data — 551 Flb 1 LLC,
Fort Lauderdale, FL
551 Flb 1 LLC
Entity: Limited Liability Company (LLC)
Industry: Unclassified Establishments
Location: Fort Lauderdale, FL
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551 Flb 1 LLC is a limited liability company (LLC) located at 551 Fort Lauderdale Blvd. in Fort Lauderdale, Florida that received a Coronavirus-related PPP loan from the SBA of $2,447,600.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
282Loan Approved:
2020-04-05Lender:
CITY NATIONAL BANK OF FLORIDA551 Flb 1 LLC in Fort Lauderdale, FL received a Paycheck Protection Loan of $2.45M through CITY NATIONAL BANK OF FLORIDA, which was approved in April, 2020.
Based on standard PPP eligibility rules, 551 Flb 1 LLC's total 2019 payroll expenses were approximately $11.75M in order to qualify for the PPP loan amount received.
Based on their reported 282 jobs retained, this equals an estimated average yearly compensation of $41,661 per employee1.
Business Information - 551 Flb 1 LLC in Fort Lauderdale, FL
551 Fort Lauderdale Blvd.
Fort Lauderdale, FL 33304
Business Industry
Unclassified Establishments (NAICS code 999990)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: FL-22Similar Companies near Fort Lauderdale
In the Fort Lauderdale area, 39 businesses in the "Unclassified Establishments" industry received a PPP loan. These local businesses reported an average of 13 employees (compared to this company's 282) and received an average PPP loan of $100,191 (compared to this company's $2.45M).
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Industry PPP Comparison Statistics
Nationwide, 86,245 businesses in the "Unclassified Establishments" industry received a total of $3,723,225,376.00 in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 6 employees, 98% lower than 551 Flb 1 LLC's reported 282 employees, and received an average PPP loan of $43,170, 98% lower than this company's loan of $2.45M.
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, and is published unmodified, as provided by the SBA.
Footnotes & Information
1. 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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