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

PPP Loan Data — Innova Trading Corp, Guaynabo, PR

ALERT: There are 2 PPP loans for a total of $98,600 in our database for businesses with the name "Innova Trading Corp" in Guaynabo, PR. 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 Innova Trading Corp
PR

Innova Trading Corp

Entity: Corporation

Industry: Other Miscellaneous Durable Goods Merchant Wholesalers

Location: Guaynabo, PR

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Innova Trading Corp is a corporation located at Zona Libre De Comercio in Guaynabo, Puerto Rico that received a Coronavirus-related PPP loan from the SBA of $51,800.00 in February, 2021.

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

$ PPP Loan Information
Loan #5237718406

Loan Size:

$51,800

Jobs Retained:

8

Loan Approved:

2021-02-08

Loan Status:

Ongoing Loan

Lender:

Banco Popular de Puerto Rico

Innova Trading Corp in Guaynabo, PR received a Paycheck Protection Loan of $51,800 through Banco Popular de Puerto Rico, which was approved in February, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

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, Innova Trading Corp's 2019 payroll expenses are estimated to be at least $248,640.

Based on their reported 8 jobs retained, this equals an estimated average yearly compensation of $31,080 per employee1

Reported PPP Proceed Usage:

On the PPP application, Innova Trading Corp reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $51,798
  • Utilities: $1

Business Information - Innova Trading Corp in Guaynabo, PR

Innova Trading Corp
Zona Libre De Comercio
Guaynabo, PR 969

Business Industry:
Other Miscellaneous Durable Goods Merchant Wholesalers
NAICS code 423990

Business Owner Demographics

Race: White

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: Rural

Guaynabo County, PR — SBA Office 0252 — Congressional District: PR-

Similar Companies near Guaynabo

In the Guaynabo area, 13 businesses in the "Other Miscellaneous Durable Goods Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 11 employees (compared to this company's 8) and received an average PPP loan of $70,236 (compared to this company's $51,800).

Industry PPP Comparison Statistics

Nationwide, 26,568 businesses in the "Other Miscellaneous Durable Goods Merchant Wholesalers" industry received a total of $1.98B 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, 13% lower than Innova Trading Corp's reported 8 employees, and received an average PPP loan of $74,615, 44% higher than this company's loan of $51,800.

SBA PPP loan data, payroll data, and salaries for Innova Trading Corp
PR

Innova Trading Corp

Entity: Corporation

Industry: Home Furnishing Merchant Wholesalers

Location: Guaynabo, PR

Search All PPP Data

Innova Trading Corp is a corporation located at Door 14 Int Mercantil Center Sj Trade Free Zone Building in Guaynabo, Puerto Rico that received a Coronavirus-related PPP loan from the SBA of $46,800.00 in May, 2020.

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

$ PPP Loan Information
Loan #9271407707

Loan Size:

$46,800

Jobs Retained:

7

Loan Approved:

2020-05-01

Loan Status:

Ongoing Loan

Lender:

Banco Popular de Puerto Rico

Innova Trading Corp in Guaynabo, PR received a Paycheck Protection Loan of $46,800 through Banco Popular de Puerto Rico, which was approved in May, 2020.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

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, Innova Trading Corp's 2019 payroll expenses are estimated to be at least $224,640.

Based on their reported 7 jobs retained, this equals an estimated average yearly compensation of $32,091 per employee1

Reported PPP Proceed Usage:

On the PPP application, Innova Trading Corp reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $46,800

Business Information - Innova Trading Corp in Guaynabo, PR

Innova Trading Corp
Door 14 Int Mercantil Center Sj Trade Free Zone Building
Guaynabo, PR 969

Business Industry:
Home Furnishing Merchant Wholesalers
NAICS code 423220

Business Owner Demographics

Race: White

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

Guaynabo County, PR — SBA Office 0252 — Congressional District: PR-

Similar Companies near Guaynabo

In the Guaynabo area, 2 businesses in the "Home Furnishing Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 9 employees (compared to this company's 7) and received an average PPP loan of $47,100 (compared to this company's $46,800).

Similar Nearby Businesses Who Received PPP Funding:

Home Complements Inc
Guaynabo, PR

$47,400 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 5,114 businesses in the "Home Furnishing Merchant Wholesalers" industry received a total of $620.15M 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 11 employees, 57% higher than Innova Trading Corp's reported 7 employees, and received an average PPP loan of $121,266, 159% higher than this company's loan of $46,800.

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/innova-trading-corp-guaynabo-pr