PPP Loan Data — First Count LLC, Port Orange, FL
First Count LLC is a limited liability company (LLC) located at 1648 Taylor Rd in Port Orange, Florida that received a Coronavirus-related PPP loan from the SBA of $1,579,825.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Celtic Bank Corporation
First Count LLC in Port Orange, FL received a Paycheck Protection Loan of $1.58M through Celtic Bank Corporation, which was approved in May, 2020.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 76. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
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, First Count LLC's 2019 payroll expenses are estimated to be at least $7.58M (not accounting for salary amounts > $100k).
Because the 68 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, First Count LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,184,869
- Utilities: $197,478
- Rent: $197,478
Business Information - First Count LLC in Port Orange, FL
1648 Taylor Rd
Port Orange, FL 33128
Offices of Other Holding Companies
NAICS code 551112
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Port Orange
In the Port Orange area, 21 businesses in the "Offices of Other Holding Companies" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 68) and received an average PPP loan of $90,959 (compared to this company's $1.58M).
Similar Nearby Businesses Who Received PPP Funding:
Bayshore 77 Corporation
Levi & Blue LLC
Yali Gonzalez Ascanio
Industry PPP Comparison Statistics
Nationwide, 12,536 businesses in the "Offices of Other Holding Companies" industry received a total of $1.56B 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 13 employees, 81% lower than First Count LLC's reported 68 employees, and received an average PPP loan of $124,396, 92% lower than this company's loan of $1.58M.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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