PPP Loan Data — Alto Global Processing LLC, Miami, FL
Alto Global Processing LLC is a limited liability company (LLC) located at 3401 North Miami Avenue Suite 241-242 in Miami, Florida that received a Coronavirus-related PPP loan from the SBA of $46,627.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Wells Fargo Bank, National Association
Alto Global Processing LLC in Miami, FL received a Paycheck Protection Loan of $46,627 through Wells Fargo Bank, National Association, which was approved in May, 2020.
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, Alto Global Processing LLC's 2019 payroll expenses are estimated to be at least $223,810.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $55,953 per employee1
Reported PPP Proceed Usage:
On the PPP application, Alto Global Processing LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,627
Business Information - Alto Global Processing LLC in Miami, FL
3401 North Miami Avenue Suite 241-242
Miami, FL 33127
All Other Business Support Services
NAICS code 561499
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Miami
In the Miami area, 43 businesses in the "All Other Business Support Services" industry received a PPP loan. These local businesses reported an average of 6 employees (compared to this company's 4) and received an average PPP loan of $68,664 (compared to this company's $46,627).
Similar Nearby Businesses Who Received PPP Funding:
Heiland Cargo Corp
Yira M Martinez
Jers Sb Investments LLC
Cody Express Services LLC
Industry PPP Comparison Statistics
Nationwide, 53,190 businesses in the "All Other Business Support Services" industry received a total of $2.63B 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 6 employees, 50% higher than Alto Global Processing LLC's reported 4 employees, and received an average PPP loan of $49,465, 6% higher than this company's loan of $46,627.
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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