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PPP Loan Data — Braman Motors, Inc., Miami, FL

SBA PPP loan data, payroll data, and salaries for Braman Motors, Inc.
FL

Braman Motors, Inc.

Entity: Subchapter S Corporation

Industry: New Car Dealers

Location: Miami, FL

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Braman Motors, Inc. is a subchapter s corporation located at 2060 Biscayne Blvd in Miami, Florida that received a Coronavirus-related PPP loan from the SBA of $5,921,500.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$5.92M

Jobs Retained:

405

Loan Approved:

2020-04-06

Lender:

CITY NATIONAL BANK OF FLORIDA

Braman Motors, Inc. received a Paycheck Protection Loan of $5.92M through CITY NATIONAL BANK OF FLORIDA, which was approved in April, 2020.

Based on standard PPP eligibility rules, Braman Motors, Inc.'s total 2019 payroll expenses were approximately $28.42M in order to qualify for the PPP loan amount received.

Based on their reported 405 jobs retained, this equals an estimated average yearly compensation of $70,181 per employee1.

Because the loan received by Braman Motors, Inc. 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 - Braman Motors, Inc. in Miami, FL

Braman Motors, Inc.
2060 Biscayne Blvd
Miami, FL 33137

Business Industry

New Car Dealers (NAICS code 441110)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: FL-24

Similar Companies near Miami

In the Miami area, 6 businesses in the "New Car Dealers" industry received a PPP loan. These local businesses reported an average of 206 employees (compared to this company's 405) and received an average PPP loan of $2,950,458 (compared to this company's $5.92M).

Industry PPP Comparison Statistics

Nationwide, 16,570 businesses in the "New Car Dealers" industry received a total of $10,869,996,969.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 2% of the total PPP funding allocated.

PPP recipients in this industry report an average of 47 employees, 88% lower than Braman Motors, Inc.'s reported 405 employees, and received an average PPP loan of $656,005, 89% lower than this company's loan of $5.92M.

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.

Search FederalPay's Full PPP Loan Database

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/braman-motors-inc-miami-fl