PPP Loan Data — DDM Professional Leasing Services, Inc, Guaynabo, PR
DDM Professional Leasing Services, Inc is a corporation located at 100 Rd 165 Centro Internacional De Mercadeo Torre 1 Suite 307 in Guaynabo, Puerto Rico that received a Coronavirus-related PPP loan from the SBA of $2,322,000.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 462 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Banco Popular de Puerto Rico
DDM Professional Leasing Services, Inc in Guaynabo, PR received a Paycheck Protection Loan of $2.32M through Banco Popular de Puerto Rico, 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 June, 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 More
Understanding 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 More
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, DDM Professional Leasing Services, Inc's 2019 payroll expenses are estimated to be at least $11.15M.
Based on their reported 462 jobs retained, this equals an estimated average yearly compensation of $24,125 per employee1
Reported PPP Proceed Usage:
On the PPP application, DDM Professional Leasing Services, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,285,122
- Utilities: $16,545
- Rent: $20,333
Business Information - DDM Professional Leasing Services, Inc in Guaynabo, PR
100 Rd 165 Centro Internacional De Mercadeo Torre 1 Suite 307
Guaynabo, PR 968
Employment Placement Agencies
NAICS code 561311
Business Owner Demographics
Ethnicity: Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Guaynabo
In the Guaynabo area, 4 businesses in the "Employment Placement Agencies" industry received a PPP loan. These local businesses reported an average of 124 employees (compared to this company's 462) and received an average PPP loan of $604,600 (compared to this company's $2.32M).
Similar Nearby Businesses Who Received PPP Funding:
Busy Season Staffing Solutions Psc
Diaz Fontanez & Associates
Diaz Fontanez & Associates LLC
Industry PPP Comparison Statistics
Nationwide, 12,601 businesses in the "Employment Placement Agencies" industry received a total of $3.48B 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 35 employees, 92% lower than DDM Professional Leasing Services, Inc's reported 462 employees, and received an average PPP loan of $275,915, 88% lower than this company's loan of $2.32M.
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Footnotes & Information
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