PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Grey Solutions LLC, Coral Springs, FL

ALERT: There are 2 PPP loans for a total of $40,426 in our database for businesses with the name "Grey Solutions LLC" in Coral Springs, FL. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Grey Solutions LLC
FL

Grey Solutions LLC

Entity: Limited Liability Company (LLC)

Industry: Janitorial Services

Location: Coral Springs, FL

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Grey Solutions LLC is a limited liability company (LLC) located at 1801 in Coral Springs, Florida that received a Coronavirus-related PPP loan from the SBA of $27,975.00 in February, 2021.

The company has reported itself as a male owned business, and employed at least seven people during the applicable loan loan period.

$ PPP Loan Information
Loan #1342648402

Loan Size:

$27,975

Jobs Retained:

7

Loan Approved:

2021-02-01

Loan Status:

Paid in Full or Forgiven

Lender:

Itria Ventures LLC

Grey Solutions LLC in Coral Springs, FL received a Paycheck Protection Loan of $27,975 through Itria Ventures LLC, which was approved in February, 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 October, 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 More
Understanding 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 More

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, Grey Solutions LLC's 2019 payroll expenses are estimated to be at least $134,280.

Based on their reported 7 jobs retained, this equals an estimated average yearly compensation of $19,183 per employee1

Reported PPP Proceed Usage:

On the PPP application, Grey Solutions LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $27,969
  • Utilities: $1

Business Information - Grey Solutions LLC in Coral Springs, FL

Grey Solutions LLC
1801
Coral Springs, FL 33071

Business Industry:
Janitorial Services
NAICS code 561720

Business Owner Demographics

Race: Unreported

Ethnicity: Hispanic or Latino

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Broward County, FL — SBA Office 0455 — Congressional District: FL-22

Similar Companies near Coral Springs

In the Coral Springs area, 68 businesses in the "Janitorial Services" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 7) and received an average PPP loan of $9,840 (compared to this company's $27,975).

Industry PPP Comparison Statistics

Nationwide, 138,596 businesses in the "Janitorial Services" industry received a total of $4.29B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.

PPP recipients in this industry report an average of 5 employees, 29% lower than Grey Solutions LLC's reported 7 employees, and received an average PPP loan of $30,982, 11% higher than this company's loan of $27,975.

SBA PPP loan data, payroll data, and salaries for Grey Solutions LLC
FL

Grey Solutions LLC

Entity: Limited Liability Company (LLC)

Industry: All Other Support Services

Location: Coral Springs, FL

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Grey Solutions LLC is a limited liability company (LLC) located at 7980 Wiles Rd Ste B2 in Coral Springs, Florida that received a Coronavirus-related PPP loan from the SBA of $12,451.00 in May, 2020.

The company has reported itself as a male owned business, and employed at least six people during the applicable loan loan period.

$ PPP Loan Information
Loan #8101717306

Loan Size:

$12,451

Jobs Retained:

6

Loan Approved:

2020-05-01

Loan Status:

Paid in Full or Forgiven

Lender:

Bank of America, National Association

Grey Solutions LLC in Coral Springs, FL received a Paycheck Protection Loan of $12,451 through Bank of America, National Association, which was approved in May, 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, 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 More
Understanding 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 More

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, Grey Solutions LLC's 2019 payroll expenses are estimated to be at least $59,765.

Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $9,961 per employee1

Reported PPP Proceed Usage:

On the PPP application, Grey Solutions LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $12,451

Business Information - Grey Solutions LLC in Coral Springs, FL

Grey Solutions LLC
7980 Wiles Rd Ste B2
Coral Springs, FL 33067

Business Industry:
All Other Support Services
NAICS code 561990

Business Owner Demographics

Race: Unreported

Ethnicity: Hispanic or Latino

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: New Business or 2 years or less

LMI Zone: Y

HUBZone: N

Rural / Urban: Urban

Broward County, FL — SBA Office 0455 — Congressional District: FL-22

Similar Companies near Coral Springs

In the Coral Springs area, 26 businesses in the "All Other Support Services" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 6) and received an average PPP loan of $33,822 (compared to this company's $12,451).

Industry PPP Comparison Statistics

Nationwide, 33,519 businesses in the "All Other Support Services" industry received a total of $1.7B 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 7 employees, 17% higher than Grey Solutions LLC's reported 6 employees, and received an average PPP loan of $50,756, 308% higher than this company's loan of $12,451.

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.

Search FederalPay's Full PPP Loan Database

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/grey-solutions-llc-coral-springs-fl