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PPP Loan Data — Global Contracting Group LLC,
Wildwood, FL
Global Contracting Group LLC
Entity: Limited Liability Company (LLC)
Industry: Site Preparation Contractors
Location: Wildwood, FL
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Global Contracting Group LLC is a limited liability company (LLC) located at 8470 Ne 44th Dr in Wildwood, Florida that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in January, 2021.
$
PPP Loan Information
Loan #1953408301
Loan Size:
Jobs Retained:
278Loan Approved:
2021-01-20Loan Status:
Ongoing LoanLender:
Morris BankGlobal Contracting Group LLC in Wildwood, FL received a Paycheck Protection Loan of $2M through Morris Bank, which was approved in January, 2021.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Global Contracting Group LLC's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 278 jobs retained, this equals an estimated average yearly compensation of $34,532 per employee1
Reported PPP Proceed Usage:
On the PPP application, Global Contracting Group LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,994
- Utilities: $1
Business Information - Global Contracting Group LLC in Wildwood, FL
8470 Ne 44th Dr
Wildwood, FL 34785
Business Industry:
Site Preparation Contractors
NAICS code 238910
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: Y
Rural / Urban: Rural
Similar Companies near Wildwood
In the Wildwood area, 3 businesses in the "Site Preparation Contractors" industry received a PPP loan. These local businesses reported an average of 170 employees (compared to this company's 278) and received an average PPP loan of $1,598,512 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
CL Green, Inc
Windermere, FL
Industry PPP Comparison Statistics
Nationwide, 30,777 businesses in the "Site Preparation Contractors" industry received a total of $4.3B 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 12 employees, 96% lower than Global Contracting Group LLC's reported 278 employees, and received an average PPP loan of $139,838, 93% lower than this company's loan of $2M.
Global Contracting Group, LLC
Entity: Limited Liability Company (LLC)
Industry: Site Preparation Contractors
Location: Wildwood, FL
Tweet This
•
Search All PPP Data
Global Contracting Group, LLC is a limited liability company (LLC) located at 8470 Ne 44th Drive in Wildwood, Florida that received a Coronavirus-related PPP loan from the SBA of $2,768,876.00 in April, 2020.
$
PPP Loan Information
Loan #5836447000
Loan Size:
Jobs Retained:
230Loan Approved:
2020-04-06Loan Status:
Paid in Full or ForgivenLender:
Morris BankGlobal Contracting Group, LLC in Wildwood, FL received a Paycheck Protection Loan of $2.77M through Morris Bank, 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 June, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Global Contracting Group, LLC's 2019 payroll expenses are estimated to be at least $13.29M.
Based on their reported 230 jobs retained, this equals an estimated average yearly compensation of $57,785 per employee1
Reported PPP Proceed Usage:
On the PPP application, Global Contracting Group, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,537,881
- Utilities: $12,195
- Rent: $218,800
Business Information - Global Contracting Group, LLC in Wildwood, FL
8470 Ne 44th Drive
Wildwood, FL 34785
Business Industry:
Site Preparation Contractors
NAICS code 238910
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: Y
Rural / Urban: Rural
Similar Companies near Wildwood
In the Wildwood area, 3 businesses in the "Site Preparation Contractors" industry received a PPP loan. These local businesses reported an average of 170 employees (compared to this company's 230) and received an average PPP loan of $1,598,512 (compared to this company's $2.77M).
Similar Nearby Businesses Who Received PPP Funding:
CL Green, Inc
Windermere, FL
Industry PPP Comparison Statistics
Nationwide, 30,777 businesses in the "Site Preparation Contractors" industry received a total of $4.3B 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 12 employees, 95% lower than Global Contracting Group, LLC's reported 230 employees, and received an average PPP loan of $139,838, 95% lower than this company's loan of $2.77M.
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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
Footnotes & Information
1. Estimations for informational purposes only. 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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