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PPP Loan Data — Global Miami Joint Venture,
Miami, FL
Global Miami Joint Venture
Entity: Partnership
Industry: Limited-Service Restaurants
Location: Miami, FL
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Global Miami Joint Venture is a partnership located at 3663 Sw 8th St Fl 3 in Miami, Florida that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in April, 2021.
$
PPP Loan Information
Loan #1826608909
Loan Size:
Jobs Retained:
170Loan Approved:
2021-04-26Loan Status:
Paid in Full or ForgivenLender:
TD Bank, National AssociationGlobal Miami Joint Venture in Miami, FL received a Paycheck Protection Loan of $2M through TD Bank, National Association, which was approved in April, 2021.
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 September, 2022.
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 Miami Joint Venture's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 170 jobs retained, this equals an estimated average yearly compensation of $56,471 per employee1
Reported PPP Proceed Usage:
On the PPP application, Global Miami Joint Venture reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,995
- Utilities: $1
Business Information - Global Miami Joint Venture in Miami, FL
3663 Sw 8th St Fl 3
Miami, FL 33135
Business Industry:
Limited-Service Restaurants
NAICS code 722513
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: Y
HUBZone: Y
Rural / Urban: Urban
Businesses Using Same Address:
There is one other business that received a PPP loan registered to the same address as Global Miami Joint Venture.
Airport Concessions Group Inc
Limited-Service Restaurants
Similar Companies near Miami
In the Miami area, 68 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 27 employees (compared to this company's 170) and received an average PPP loan of $186,016 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Bolivian Restaurant Corp
Miami, FL
Daniel E. Fernandez PA
Coral Gables, FL
27 Entrepreneurs Miracle Mile LLC
Coral Gables, FL
Awad & Iba # 2 LLC
Miami, FL
Rice Coral Gables LLC
Coral Gables, FL
Ellas Oyster Bar LLC
Miami, FL
Zate Ou Zatar Corp
Coral Gables, FL
Airport Concessions Group Inc
Miami, FL
Greenlife Brickell Inc
Coral Gables, FL
Industry PPP Comparison Statistics
Nationwide, 136,544 businesses in the "Limited-Service Restaurants" industry received a total of $13.87B 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, 88% lower than Global Miami Joint Venture's reported 170 employees, and received an average PPP loan of $101,555, 95% lower than this company's loan of $2M.
Global Miami Joint Venture
Entity: Partnership
Industry: Limited-Service Restaurants
Location: Miami, FL
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Global Miami Joint Venture is a partnership located at 3663 Sw 8th St. 3rd Fl in Miami, Florida that received a Coronavirus-related PPP loan from the SBA of $3,797,238.00 in April, 2020.
$
PPP Loan Information
Loan #9478657001
Loan Size:
Jobs Retained:
254Loan Approved:
2020-04-09Loan Status:
Paid in Full or ForgivenLender:
TD Bank, National AssociationGlobal Miami Joint Venture in Miami, FL received a Paycheck Protection Loan of $3.8M through TD Bank, National Association, 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 April, 2022.
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 Miami Joint Venture's 2019 payroll expenses are estimated to be at least $18.23M.
Based on their reported 254 jobs retained, this equals an estimated average yearly compensation of $71,759 per employee1
Reported PPP Proceed Usage:
On the PPP application, Global Miami Joint Venture reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $3,797,238
Business Information - Global Miami Joint Venture in Miami, FL
3663 Sw 8th St. 3rd Fl
Miami, FL 33135
Business Industry:
Limited-Service Restaurants
NAICS code 722513
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age:
LMI Zone: Y
HUBZone: N
Rural / Urban: Urban
Similar Companies near Miami
In the Miami area, 68 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 27 employees (compared to this company's 254) and received an average PPP loan of $186,016 (compared to this company's $3.8M).
Similar Nearby Businesses Who Received PPP Funding:
Bolivian Restaurant Corp
Miami, FL
Daniel E. Fernandez PA
Coral Gables, FL
27 Entrepreneurs Miracle Mile LLC
Coral Gables, FL
Awad & Iba # 2 LLC
Miami, FL
Rice Coral Gables LLC
Coral Gables, FL
Ellas Oyster Bar LLC
Miami, FL
Zate Ou Zatar Corp
Coral Gables, FL
Airport Concessions Group Inc
Miami, FL
Greenlife Brickell Inc
Coral Gables, FL
Industry PPP Comparison Statistics
Nationwide, 136,544 businesses in the "Limited-Service Restaurants" industry received a total of $13.87B 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, 92% lower than Global Miami Joint Venture's reported 254 employees, and received an average PPP loan of $101,555, 97% lower than this company's loan of $3.8M.
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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