PPP Loan Data — Hurricanes Sports Club Inc, Palm Bay, FL
Hurricanes Sports Club Inc is a non-profit organization located at 2475 Palm Bay Road Northeast Ste 225 in Palm Bay, Florida that received a Coronavirus-related PPP loan from the SBA of $5,000.00 in August, 2020.
The company has reported itself as a Black or african american male veteran owned non-profit, and employed at least four people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:MBE Capital Partners
Hurricanes Sports Club Inc in Palm Bay, FL received a Paycheck Protection Loan of $5,000 through MBE Capital Partners, which was approved in August, 2020.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
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, Hurricanes Sports Club Inc's 2019 payroll expenses are estimated to be at least $24,000.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $6,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Hurricanes Sports Club Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $5,000
Business Information - Hurricanes Sports Club Inc in Palm Bay, FL
2475 Palm Bay Road Northeast Ste 225
Palm Bay, FL 32905
Sports Teams and Clubs
NAICS code 711211
Business Owner Demographics
Race: Black or African American
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Veteran
Business Age: New Business or 2 years or less
LMI Zone: Y
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 6,964 businesses in the "Sports Teams and Clubs" industry received a total of $411.47M 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 10 employees, 150% higher than Hurricanes Sports Club Inc's reported 4 employees, and received an average PPP loan of $59,085, 1082% higher than this company's loan of $5,000.
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Footnotes & Information
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