PPP Loan Data — Latitud18 Norte LLC, Caguas, PR
Latitud18 Norte LLC is a limited liability company (LLC) located at Bo Rio Cana Sector La Guasabara Km 0.3 Local #2 in Caguas, Puerto Rico that received a Coronavirus-related PPP loan from the SBA of $25,283.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:FirstBank Puerto Rico
Latitud18 Norte LLC in Caguas, PR received a Paycheck Protection Loan of $25,283 through FirstBank Puerto Rico, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in January, 2021.
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, Latitud18 Norte LLC's 2019 payroll expenses are estimated to be at least $121,358.
Based on their reported 8 jobs retained, this equals an estimated average yearly compensation of $15,170 per employee1
Reported PPP Proceed Usage:
On the PPP application, Latitud18 Norte LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $20,283
- Utilities: $1,600
- Rent: $3,200
- Health Care: $200
Business Information - Latitud18 Norte LLC in Caguas, PR
Bo Rio Cana Sector La Guasabara Km 0.3 Local #2
Caguas, PR 725
All Other Health and Personal Care Stores
NAICS code 446199
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: Y
Rural / Urban: Rural
Similar Companies near Caguas
In the Caguas area, 8 businesses in the "All Other Health and Personal Care Stores" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 8) and received an average PPP loan of $13,515 (compared to this company's $25,283).
Similar Nearby Businesses Who Received PPP Funding:
Aspen Medical Systems Co
Clinical Management Group Inc
Central Medical Group Inc
Green Medical Group Corp
Maria De Magdala Hernandez Diaz
Industry PPP Comparison Statistics
Nationwide, 14,381 businesses in the "All Other Health and Personal Care Stores" industry received a total of $593.14M 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 5 employees, 38% lower than Latitud18 Norte LLC's reported 8 employees, and received an average PPP loan of $41,245, 63% higher than this company's loan of $25,283.
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Footnotes & Information
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