PPP Loan Data — Gateway Management Company, LLC, Florence, AL
Gateway Management Company, LLC is a limited liability company (LLC) located at 920 Florence Blvd. in Florence, Alabama that received a Coronavirus-related PPP loan from the SBA of $2,582,485.00 in April, 2020.
$ PPP Loan Information
Gateway Management Company, LLC in Florence, AL received a Paycheck Protection Loan of $2.58M through BANK INDEPENDENT, which was approved in April, 2020.
Based on standard PPP eligibility rules, Gateway Management Company, LLC's total 2019 payroll expenses were approximately $12.4M in order to qualify for the PPP loan amount received.
Based on their reported 308 jobs retained, this equals an estimated average yearly compensation of $40,247 per employee1.
Business Information - Gateway Management Company, LLC in Florence, AL
920 Florence Blvd.
Florence, AL 35630
Nonresidential Property Managers (NAICS code 531312)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: AL-05
Similar Companies near Florence
In the Florence area, 4 businesses in the "Nonresidential Property Managers" industry received a PPP loan. These local businesses reported an average of 81 employees (compared to this company's 308) and received an average PPP loan of $651,312 (compared to this company's $2.58M).
Similar Nearby Businesses Who Received PPP Funding:
Knight & Humphries Inc
D & W LLC
North Alabama Properties LLC
Industry PPP Comparison Statistics
Nationwide, 7,563 businesses in the "Nonresidential Property Managers" industry received a total of $894,646,174.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 10 employees, 97% lower than Gateway Management Company, LLC's reported 308 employees, and received an average PPP loan of $118,292, 95% lower than this company's loan of $2.58M.
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, and is published unmodified, as provided by the SBA.
Footnotes & Information
1. 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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