PPP Loan Data — GLC On The Go, Weston, FL
GLC On The Go is a subchapter s corporation located at 1290 Weston Rd in Weston, Florida that received a Coronavirus-related PPP loan from the SBA of $2,111,800.00 in May, 2020.
The company has reported itself as a male owned business, and employed at least 270 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Amerant Bank, National Association
GLC On The Go in Weston, FL received a Paycheck Protection Loan of $2.11M through Amerant Bank, National Association, which was approved in May, 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, GLC On The Go's 2019 payroll expenses are estimated to be at least $10.14M.
Based on their reported 270 jobs retained, this equals an estimated average yearly compensation of $37,543 per employee1
Reported PPP Proceed Usage:
On the PPP application, GLC On The Go reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,111,800
Business Information - GLC On The Go in Weston, FL
1290 Weston Rd
Weston, FL 33326
Employment Placement Agencies
NAICS code 561311
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Weston
In the Weston area, 8 businesses in the "Employment Placement Agencies" industry received a PPP loan. These local businesses reported an average of 41 employees (compared to this company's 270) and received an average PPP loan of $435,251 (compared to this company's $2.11M).
Similar Nearby Businesses Who Received PPP Funding:
AR International Enterprises Inc
3 Me Consulting Inc
Ahecio A Labrada Izquierdo
Industry PPP Comparison Statistics
Nationwide, 12,601 businesses in the "Employment Placement Agencies" industry received a total of $3.48B 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 35 employees, 87% lower than GLC On The Go's reported 270 employees, and received an average PPP loan of $275,915, 87% lower than this company's loan of $2.11M.
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Footnotes & Information
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