PPP Loan Data — Grupo Cooperativo Seguros Multiples, San Juan, PR
Grupo Cooperativo Seguros Multiples is a cooperative located at 38 Calle Nevarez in San Juan, Puerto Rico that received a Coronavirus-related PPP loan from the SBA of $4,631,400.00 in April, 2020.
$ PPP Loan Information
Lender:BANCO POPULAR DE PUERTO RICO
Grupo Cooperativo Seguros Multiples in San Juan, PR received a Paycheck Protection Loan of $4.63M through BANCO POPULAR DE PUERTO RICO, which was approved in April, 2020.
Based on standard PPP eligibility rules, Grupo Cooperativo Seguros Multiples' total 2019 payroll expenses were approximately $22.23M in order to qualify for the PPP loan amount received.
Based on their reported 473 jobs retained, this equals an estimated average yearly compensation of $46,999 per employee1.
Business Information - Grupo Cooperativo Seguros Multiples in San Juan, PR
38 Calle Nevarez
San Juan, PR 00927
Offices of Other Holding Companies (NAICS code 551112)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: PR-
Similar Companies near San Juan
In the San Juan area, 3 businesses in the "Offices of Other Holding Companies" industry received a PPP loan. These local businesses reported an average of 161 employees (compared to this company's 473) and received an average PPP loan of $1,579,800 (compared to this company's $4.63M).
Similar Nearby Businesses Who Received PPP Funding:
Luna Group, LLC
San Juan, PR
Brands Of Holding Inc
San Juan, PR
Industry PPP Comparison Statistics
Nationwide, 7,606 businesses in the "Offices of Other Holding Companies" industry received a total of $1,222,968,235.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 14 employees, 97% lower than Grupo Cooperativo Seguros Multiples' reported 473 employees, and received an average PPP loan of $160,790, 97% lower than this company's loan of $4.63M.
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, and is published unmodified, as provided by the SBA.
Footnotes & Information
1. 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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