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PPP Loan Data — Grupo Cooperativo Seguros Multiples, San Juan, PR

SBA PPP loan data, payroll data, and salaries for Grupo Cooperativo Seguros Multiples
PR

Grupo Cooperativo Seguros Multiples

Entity: Cooperative

Industry: Offices of Other Holding Companies

Location: San Juan, PR

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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

Loan Size:

$4.63M

Jobs Retained:

473

Loan Approved:

2020-04-27

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.

Because the loan received by Grupo Cooperativo Seguros Multiples is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Grupo Cooperativo Seguros Multiples in San Juan, PR

Grupo Cooperativo Seguros Multiples
38 Calle Nevarez
San Juan, PR 00927

Business Industry

Offices of Other Holding Companies (NAICS code 551112)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional 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).

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.

Search FederalPay's Full PPP Loan Database

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/grupo-cooperativo-seguros-multiples-san-juan-pr