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PPP Loan Data — Corerx Inc., Clearwater, FL

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

Corerx Inc.

Entity: Corporation

Industry: Pharmaceutical Preparation Manufacturing

Location: Clearwater, FL

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Corerx Inc. is a corporation located at 14205 Myerlake Circle in Clearwater, Florida that received a Coronavirus-related PPP loan from the SBA of $2,877,184.00 in April, 2020.

The company has reported itself as a White male owned business, and employed at least 183 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$2.88M

Jobs Retained:

183

Loan Approved:

2020-04-09

Lender:

BBVA USA

Corerx Inc. in Clearwater, FL received a Paycheck Protection Loan of $2.88M through BBVA USA, which was approved in April, 2020.

Based on standard PPP eligibility rules, Corerx Inc.'s total 2019 payroll expenses were approximately $13.81M in order to qualify for the PPP loan amount received.

Based on their reported 183 jobs retained, this equals an estimated average yearly compensation of $75,467 per employee1.

Because the loan received by Corerx 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 - Corerx Inc. in Clearwater, FL

Corerx Inc.
14205 Myerlake Circle
Clearwater, FL 33760

Business Industry

Pharmaceutical Preparation Manufacturing (NAICS code 325412)

Business Owner Demographics

Race / Ethnicity: WHITE

Gender: MALE OWNED

Veteran Status: NON-VETERAN

Congressional District: FL-13

Similar Companies near Clearwater

In the Clearwater area, 2 businesses in the "Pharmaceutical Preparation Manufacturing" industry received a PPP loan. These local businesses reported an average of 95 employees (compared to this company's 183) and received an average PPP loan of $1,474,577 (compared to this company's $2.88M).

Similar Nearby Businesses Who Received PPP Funding:

DPS Powder Coating Inc
Clearwater, FL

$71,969 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 1,351 businesses in the "Pharmaceutical Preparation Manufacturing" industry received a total of $515,322,883.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 22 employees, 88% lower than Corerx Inc.'s reported 183 employees, and received an average PPP loan of $381,438, 87% lower than this company's loan of $2.88M.

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.

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/corerx-inc-clearwater-fl