PPP Loan Data — Frost Management Company Inc, Lutz, FL
Frost Management Company Inc is a corporation located at 18582 North Dale Mabry 0.0 in Lutz, Florida that received a Coronavirus-related PPP loan from the SBA of $1,724,485.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:JPMorgan Chase Bank, National Association
Frost Management Company Inc in Lutz, FL received a Paycheck Protection Loan of $1.72M through JPMorgan Chase Bank, National Association, which was approved in April, 2020.
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, Frost Management Company Inc's 2019 payroll expenses are estimated to be at least $8.28M.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $16,555 per employee1
Reported PPP Proceed Usage:
On the PPP application, Frost Management Company Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,364,485
- Utilities: $70,000
- Rent: $260,000
- Health Care: $30,000
Business Information - Frost Management Company Inc in Lutz, FL
18582 North Dale Mabry 0.0
Lutz, FL 33548
NAICS code 722513
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Lutz
In the Lutz area, 19 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 74 employees (compared to this company's 500) and received an average PPP loan of $364,643 (compared to this company's $1.72M).
Similar Nearby Businesses Who Received PPP Funding:
Bltm Sacco Enterprises, LLC
Fishhawk Subway, Inc
Prado Enterprises, Inc
Havana Dreamers Inc
Energized N Fit LLC
Dale Donuts LLC
Capri Pizza & Pasta Enterprises Inc
Jcp2 Enterprises, Inc
Industry PPP Comparison Statistics
Nationwide, 137,629 businesses in the "Limited-Service Restaurants" industry received a total of $13.9B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 21 employees, 96% lower than Frost Management Company Inc's reported 500 employees, and received an average PPP loan of $100,980, 94% lower than this company's loan of $1.72M.
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Footnotes & Information
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