PPP Loan Data — Geiger Promo Solutions, LLC, Jacksonville, FL
Geiger Promo Solutions, LLC is a limited liability company (LLC) located in Jacksonville, Florida that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Geiger Promo Solutions, LLC in Jacksonville, FL received a Paycheck Protection Loan of $25,000 through VyStar CU, which was approved in April, 2020.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 1. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
Reported PPP Proceed Usage:
On the PPP application, Geiger Promo Solutions, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Geiger Promo Solutions, LLC in Jacksonville, FL
* Full address is redacted to protect the privacy of individuals.
General Line Grocery Merchant Wholesalers
NAICS code 424410
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Jacksonville
In the Jacksonville area, 62 businesses in the "General Line Grocery Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 6 employees (compared to this company's 1) and received an average PPP loan of $32,389 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Erwin Acquisitions, LLC
Southern Monument Company Inc
Jack & Dot Taxes Inc
A&J Shipping LLC
Paved 2 Perfection LLC
Moses Power LLC
David J Ellis Je Sales
Industry PPP Comparison Statistics
Nationwide, 6,428 businesses in the "General Line Grocery Merchant Wholesalers" industry received a total of $753.1M 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, 1200% higher than Geiger Promo Solutions, LLC's reported 1 employees, and received an average PPP loan of $117,159, 369% higher than this company's loan of $25,000.
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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