PPP Loan Data — Customers First Title Company, Miramar Beach, FL
Customers First Title Company is a corporation located at 9300 Emerald Coast Parkway W in Miramar Beach, Florida that received a Coronavirus-related PPP loan from the SBA of $25,408.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:The First, A National Banking Association
Customers First Title Company in Miramar Beach, FL received a Paycheck Protection Loan of $25,408 through The First, A National Banking Association, 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 February, 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, Customers First Title Company's 2019 payroll expenses are estimated to be at least $121,958.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,979 per employee1
Reported PPP Proceed Usage:
On the PPP application, Customers First Title Company reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $21,958
- Utilities: $1,200
- Rent: $2,250
Business Information - Customers First Title Company in Miramar Beach, FL
9300 Emerald Coast Parkway W
Miramar Beach, FL 32550
Title Abstract and Settlement Offices
NAICS code 541191
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Miramar Beach
In the Miramar Beach area, 2 businesses in the "Title Abstract and Settlement Offices" industry received a PPP loan. These local businesses reported an average of 19 employees (compared to this company's 2) and received an average PPP loan of $231,459 (compared to this company's $25,408).
Similar Nearby Businesses Who Received PPP Funding:
Setco Services, LLC
Miramar Beach, FL
Industry PPP Comparison Statistics
Nationwide, 5,533 businesses in the "Title Abstract and Settlement Offices" industry received a total of $500.83M 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 8 employees, 300% higher than Customers First Title Company's reported 2 employees, and received an average PPP loan of $90,517, 256% higher than this company's loan of $25,408.
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Footnotes & Information
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