PPP Loan Data — Eden Corporation, Mayaguez, PR
Eden Corporation is a corporation located at 975 Ave Hostos Ste 240 in Mayaguez, Puerto Rico that received a Coronavirus-related PPP loan from the SBA of $25,200.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least eighteen people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Eden Corporation in Mayaguez, PR received a Paycheck Protection Loan of $25,200 through Oriental Bank, 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 May, 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, Eden Corporation's 2019 payroll expenses are estimated to be at least $120,960.
Based on their reported 18 jobs retained, this equals an estimated average yearly compensation of $6,720 per employee1
Reported PPP Proceed Usage:
On the PPP application, Eden Corporation reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,200
Business Information - Eden Corporation in Mayaguez, PR
975 Ave Hostos Ste 240
Mayaguez, PR 680
Family Clothing Stores
NAICS code 448140
Business Owner Demographics
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 Mayaguez
In the Mayaguez area, 8 businesses in the "Family Clothing Stores" industry received a PPP loan. These local businesses reported an average of 6 employees (compared to this company's 18) and received an average PPP loan of $14,765 (compared to this company's $25,200).
Similar Nearby Businesses Who Received PPP Funding:
Calzados Hq Inc
Victoria Mendoza LLC
Sylvia Velez Aquino
RR Marine World Puerto Rico, Inc
Industry PPP Comparison Statistics
Nationwide, 15,837 businesses in the "Family Clothing Stores" industry received a total of $516.91M 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 5 employees, 72% lower than Eden Corporation's reported 18 employees, and received an average PPP loan of $32,640, 30% higher than this company's loan of $25,200.
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Footnotes & Information
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