PPP Loan Data — Cool Factor, LLC, Naples, FL
Cool Factor, LLC
Entity: Limited Liability Company (LLC)
Industry: Air-Conditioning and Warm Air Heating Equipment and Commercial and Industrial Refrigeration Equipment Manufacturing
Location: Naples, FLTweet This • Search All PPP Data
Cool Factor, LLC is a limited liability company (LLC) located at 260 8th St in Naples, Florida that received a Coronavirus-related PPP loan from the SBA of $25,250.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Fifth Third Bank
Cool Factor, LLC in Naples, FL received a Paycheck Protection Loan of $25,250 through Fifth Third Bank, which was approved in May, 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, 2021.
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, Cool Factor, LLC's 2019 payroll expenses are estimated to be at least $121,200.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,400 per employee1
Reported PPP Proceed Usage:
On the PPP application, Cool Factor, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $22,250
- Refinance EIDL: $3,000
Business Information - Cool Factor, LLC in Naples, FL
260 8th St
Naples, FL 34117
Air-Conditioning and Warm Air Heating Equipment and Commercial and Industrial Refrigeration Equipment Manufacturing
NAICS code 333415
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 2,606 businesses in the "Air-Conditioning and Warm Air Heating Equipment and Commercial and Industrial Refrigeration Equipment Manufacturing" industry received a total of $490.48M 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 16 employees, 433% higher than Cool Factor, LLC's reported 3 employees, and received an average PPP loan of $188,212, 645% higher than this company's loan of $25,250.
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Footnotes & Information
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