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PPP Loan Data — Crossbridge Merger Sub LLC,
Miami, FL
Crossbridge Merger Sub LLC
Entity: Limited Liability Company (LLC)
Industry: Testing Laboratories
Location: Miami, FL
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Crossbridge Merger Sub LLC is a limited liability company (LLC) located at 1515 Sunset Dr Ste 32 in Miami, Florida that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in February, 2021.
$
PPP Loan Information
Loan #6005618406
Loan Size:
Jobs Retained:
225Loan Approved:
2021-02-09Loan Status:
Paid in Full or ForgivenLender:
City National Bank of FloridaCrossbridge Merger Sub LLC in Miami, FL received a Paycheck Protection Loan of $2M through City National Bank of Florida, which was approved in February, 2021.
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 March, 2022.
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 MoreUnderstanding 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 MoreBased 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, Crossbridge Merger Sub LLC's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 225 jobs retained, this equals an estimated average yearly compensation of $42,667 per employee1
Reported PPP Proceed Usage:
On the PPP application, Crossbridge Merger Sub LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,998
- Utilities: $1
Business Information - Crossbridge Merger Sub LLC in Miami, FL
1515 Sunset Dr Ste 32
Miami, FL 33143
Business Industry:
Testing Laboratories
NAICS code 541380
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
Similar Companies near Miami
In the Miami area, 5 businesses in the "Testing Laboratories" industry received a PPP loan. These local businesses reported an average of 72 employees (compared to this company's 225) and received an average PPP loan of $544,394 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Elite Phlebotomy Services Inc
Miami, FL
Celia Gonzales
Miami, FL
Industry PPP Comparison Statistics
Nationwide, 4,515 businesses in the "Testing Laboratories" industry received a total of $813.16M 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, 93% lower than Crossbridge Merger Sub LLC's reported 225 employees, and received an average PPP loan of $180,101, 91% lower than this company's loan of $2M.
Crossbridge Merger Sub, LLC
Entity: Limited Liability Company (LLC)
Industry: Unclassified Establishments
Location: Miami, FL
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Crossbridge Merger Sub, LLC is a limited liability company (LLC) located at 1515 Sunset Drive, Suite 32 in Miami, Florida that received a Coronavirus-related PPP loan from the SBA of $3,000,000.00 in April, 2020.
$
PPP Loan Information
Loan #1160737310
Loan Size:
Jobs Retained:
320Loan Approved:
2020-04-28Loan Status:
Paid in Full or ForgivenLender:
City National Bank of FloridaCrossbridge Merger Sub, LLC in Miami, FL received a Paycheck Protection Loan of $3M through City National Bank of Florida, 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 July, 2021.
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 MoreUnderstanding 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 MoreBased 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, Crossbridge Merger Sub, LLC's 2019 payroll expenses are estimated to be at least $14.4M.
Based on their reported 320 jobs retained, this equals an estimated average yearly compensation of $45,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Crossbridge Merger Sub, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,250,000
- Utilities: $750,000
Business Information - Crossbridge Merger Sub, LLC in Miami, FL
1515 Sunset Drive, Suite 32
Miami, FL 33143
Business Industry:
Unclassified Establishments
NAICS code 999990
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
Similar Companies near Miami
In the Miami area, 67 businesses in the "Unclassified Establishments" industry received a PPP loan. These local businesses reported an average of 14 employees (compared to this company's 320) and received an average PPP loan of $73,295 (compared to this company's $3M).
Similar Nearby Businesses Who Received PPP Funding:
Stadio LLC
Miami, FL
Alline Construction
Miami, FL
Preuss Enterprises Inc
Miami, FL
Semper Laser LLC
South Miami, FL
Recermaq Ist International LLC
South Miami, FL
Parkview Terrace LLC
South Miami, FL
The Crespo Group LLC
Miami, FL
Rimlands Nursery Inc
Miami, FL
Most Valuable Parking Inc
Miami, FL
Industry PPP Comparison Statistics
Nationwide, 85,564 businesses in the "Unclassified Establishments" industry received a total of $3.67B 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 10 employees, 97% lower than Crossbridge Merger Sub, LLC's reported 320 employees, and received an average PPP loan of $42,859, 99% lower than this company's loan of $3M.
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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