PPP Loan Data — Jose Santiago Inc., Bayamon, PR
Jose Santiago Inc. is a corporation located at Km. 4.4 Carr. 5, Urb. Industrial Luchetti in Bayamon, Puerto Rico that received a Coronavirus-related PPP loan from the SBA of $3,664,700.00 in April, 2020.
$ PPP Loan Information
Lender:BANCO POPULAR DE PUERTO RICO
Jose Santiago Inc. in Bayamon, PR received a Paycheck Protection Loan of $3.66M through BANCO POPULAR DE PUERTO RICO, which was approved in April, 2020.
Based on standard PPP eligibility rules, Jose Santiago Inc.'s total 2019 payroll expenses were approximately $17.59M in order to qualify for the PPP loan amount received.
Based on their reported 415 jobs retained, this equals an estimated average yearly compensation of $42,387 per employee1.
Business Information - Jose Santiago Inc. in Bayamon, PR
Km. 4.4 Carr. 5, Urb. Industrial Luchetti
Bayamon, PR 959
General Line Grocery Merchant Wholesalers (NAICS code 424410)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: PR-
Similar Companies near Bayamon
In the Bayamon area, 3 businesses in the "General Line Grocery Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 139 employees (compared to this company's 415) and received an average PPP loan of $1,225,967 (compared to this company's $3.66M).
Similar Nearby Businesses Who Received PPP Funding:
Goodies Candy And More Inc
Industry PPP Comparison Statistics
Nationwide, 4,442 businesses in the "General Line Grocery Merchant Wholesalers" industry received a total of $596,799,136.00 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 Jose Santiago Inc.'s reported 415 employees, and received an average PPP loan of $134,354, 96% lower than this company's loan of $3.66M.
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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