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PPP Loan Data — Dann Ocean Towing Inc, Tampa, FL

SBA PPP loan data, payroll data, and salaries for Dann Ocean Towing Inc
FL

Dann Ocean Towing Inc

Entity: Subchapter S Corporation

Industry: Motor Vehicle Towing

Location: Tampa, FL

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Dann Ocean Towing Inc is a subchapter s corporation located at 3670 South West Shore Blvd in Tampa, Florida that received a Coronavirus-related PPP loan from the SBA of $2,628,000.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.63M

Jobs Retained:

200

Loan Approved:

2020-04-07

Lender:

CADENCE BANK, NATIONAL ASSOCIATION

Dann Ocean Towing Inc received a Paycheck Protection Loan of $2.63M through CADENCE BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Dann Ocean Towing Inc's total 2019 payroll expenses were approximately $12.61M in order to qualify for the PPP loan amount received.

Based on their reported 200 jobs retained, this equals an estimated average yearly compensation of $63,072 per employee1.

Because the loan received by Dann Ocean Towing 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 - Dann Ocean Towing Inc in Tampa, FL

Dann Ocean Towing Inc
3670 South West Shore Blvd
Tampa, FL 33629

Business Industry

Motor Vehicle Towing (NAICS code 488410)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: FL-14

Industry PPP Comparison Statistics

Nationwide, 7,341 businesses in the "Motor Vehicle Towing" industry received a total of $532,393,756.00 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 7 employees, 97% lower than Dann Ocean Towing Inc's reported 200 employees, and received an average PPP loan of $72,523, 97% lower than this company's loan of $2.63M.

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.

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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/dann-ocean-towing-inc-tampa-fl