PPP Loan Data — Flamingo Cargo Inc, Miami, FL
Flamingo Cargo Inc is a corporation located at 3705 Nw 115 Ave Suite 1 in Miami, Florida that received a Coronavirus-related PPP loan from the SBA of $24,860.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least three people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Flamingo Cargo Inc in Miami, FL received a Paycheck Protection Loan of $24,860 through Benworth Capital, 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 March, 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, Flamingo Cargo Inc's 2019 payroll expenses are estimated to be at least $119,328.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $39,776 per employee1
Reported PPP Proceed Usage:
On the PPP application, Flamingo Cargo Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,860
Business Information - Flamingo Cargo Inc in Miami, FL
3705 Nw 115 Ave Suite 1
Miami, FL 33178
Freight Transportation Arrangement
NAICS code 488510
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: Urban
Similar Companies near Miami
In the Miami area, 156 businesses in the "Freight Transportation Arrangement" industry received a PPP loan. These local businesses reported an average of 11 employees (compared to this company's 3) and received an average PPP loan of $116,337 (compared to this company's $24,860).
Similar Nearby Businesses Who Received PPP Funding:
Cargo Essence, Inc
Southern Group USA Inc
East Point Group, LLC
Vipex Consolidators Inc
John Lg Sharko Chb LLC
J D Brokers & Forwarding Company
Ivelcargo & Parts Corp
Support Cargo Corp
Industry PPP Comparison Statistics
Nationwide, 26,171 businesses in the "Freight Transportation Arrangement" industry received a total of $1.88B 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 7 employees, 133% higher than Flamingo Cargo Inc's reported 3 employees, and received an average PPP loan of $72,001, 190% higher than this company's loan of $24,860.
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Footnotes & Information
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