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PPP Loan Data — Areas USA Lax LLC, Miami, FL

SBA PPP loan data, payroll data, and salaries for Areas USA Lax LLC
FL

Areas USA Lax LLC

Entity: Limited Liability Company (LLC)

Industry: Limited-Service Restaurants

Location: Miami, FL

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Areas USA Lax LLC is a limited liability company (LLC) located at 5301 Blue Lagoon Dr Ste 690 in Miami, Florida that received a Coronavirus-related PPP loan from the SBA of $4,015,270.00 in April, 2020.

$ PPP Loan Information
Loan #3489747209

Loan Size:

$4.02M

Jobs Retained:

417

Loan Approved:

2020-04-27

Loan Status:

Paid in Full or Forgiven

Lender:

BBVA USA

Areas USA Lax LLC in Miami, FL received a Paycheck Protection Loan of $4.02M through BBVA USA, 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 June, 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 More
Understanding 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 More

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, Areas USA Lax LLC's 2019 payroll expenses are estimated to be at least $19.27M.

Based on their reported 417 jobs retained, this equals an estimated average yearly compensation of $46,219 per employee1

Reported PPP Proceed Usage:

On the PPP application, Areas USA Lax LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $3,011,453
  • Utilities: $501,909
  • Rent: $501,909
Because the loan received by Areas USA Lax LLC is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Areas USA Lax LLC in Miami, FL

Areas USA Lax LLC
5301 Blue Lagoon Dr Ste 690
Miami, FL 33126

Business Industry:
Limited-Service Restaurants
NAICS code 722513

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Miami-dade County, FL — SBA Office 0455 — Congressional District: FL-27

Similar Companies near Miami

In the Miami area, 136 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 14 employees (compared to this company's 417) and received an average PPP loan of $102,870 (compared to this company's $4.02M).

Industry PPP Comparison Statistics

Nationwide, 128,172 businesses in the "Limited-Service Restaurants" industry received a total of $13.48B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 2% of the total PPP funding allocated.

PPP recipients in this industry report an average of 22 employees, 95% lower than Areas USA Lax LLC's reported 417 employees, and received an average PPP loan of $105,180, 97% lower than this company's loan of $4.02M.

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.

Search FederalPay's Full PPP Loan Database

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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Source: www.federalpay.org/paycheck-protection-program/areas-usa-lax-llc-miami-fl