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PPP Loan Data — EMY Group PA, Miami, FL

SBA PPP loan data, payroll data, and salaries for EMY Group PA
FL

EMY Group PA

Entity: Corporation

Industry: Insurance Agencies and Brokerages

Location: Miami, FL

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EMY Group PA is a corporation located at 5461 Sw 162nd Ct in Miami, Florida that received a Coronavirus-related PPP loan from the SBA of $41,500.00 in March, 2021.

The company has reported itself as a White female owned business, and employed at least two people during the applicable loan loan period.

$ PPP Loan Information
Loan #1997118604

Loan Size:

$41,500

Jobs Retained:

2

Loan Approved:

2021-03-13

Loan Status:

Paid in Full or Forgiven

Lender:

Bank of America, National Association

EMY Group PA in Miami, FL received a Paycheck Protection Loan of $41,500 through Bank of America, National Association, which was approved in March, 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 September, 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, EMY Group PA's 2019 payroll expenses are estimated to be at least $199,200.

Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $99,600 per employee1

Reported PPP Proceed Usage:

On the PPP application, EMY Group PA reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $41,498
  • Utilities: $1

Business Information - EMY Group PA in Miami, FL

EMY Group PA
5461 Sw 162nd Ct
Miami, FL 33185

Business Industry:
Insurance Agencies and Brokerages
NAICS code 524210

Business Owner Demographics

Race: White

Ethnicity: Hispanic or Latino

Gender: Female Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Miami-dade County, FL — SBA Office 0455 — Congressional District: FL-26

Businesses Using Same Address:

There is one other business that received a PPP loan registered to the same address as EMY Group PA.

Samuel Yahia
Sales Financing

$7,311 PPP Loan

Similar Companies near Miami

In the Miami area, 165 businesses in the "Insurance Agencies and Brokerages" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 2) and received an average PPP loan of $38,254 (compared to this company's $41,500).

Industry PPP Comparison Statistics

Nationwide, 148,603 businesses in the "Insurance Agencies and Brokerages" industry received a total of $5.85B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.

PPP recipients in this industry report an average of 4 employees, 100% higher than EMY Group PA's reported 2 employees, and received an average PPP loan of $39,368, 5% lower than this company's loan of $41,500.

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.

Search FederalPay's Full PPP Loan Database

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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Source: www.federalpay.org/paycheck-protection-program/emy-group-pa-miami-fl