PPP Loan Data — Medcorp Trade LLC, Hallandale Beach, FL
Medcorp Trade LLC
Location: Hallandale Beach, FLTweet This • Search All PPP Data
Medcorp Trade LLC is a corporation located at 801 N Federal Hwy in Hallandale Beach, Florida that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in January, 2021.
The company has reported itself as a White female owned business, and employed at least five people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:PNC Bank, National Association
Medcorp Trade LLC in Hallandale Beach, FL received a Paycheck Protection Loan of $25,000 through PNC Bank, National Association, which was approved 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, Medcorp Trade LLC's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $24,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Medcorp Trade LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,998
- Utilities: $1
Business Information - Medcorp Trade LLC in Hallandale Beach, FL
801 N Federal Hwy
Hallandale Beach, FL 33009
Medical, Dental, and Hospital Equipment and Supplies Merchant Wholesalers
NAICS code 423450
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Hallandale Beach
In the Hallandale Beach area, 4 businesses in the "Medical, Dental, and Hospital Equipment and Supplies Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 5) and received an average PPP loan of $55,383 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Preferred Medical Solutions In
Hallandale Beach, FL
Doctors Toy Store Inc
Industry PPP Comparison Statistics
Nationwide, 14,443 businesses in the "Medical, Dental, and Hospital Equipment and Supplies Merchant Wholesalers" industry received a total of $1.42B 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 9 employees, 80% higher than Medcorp Trade LLC's reported 5 employees, and received an average PPP loan of $98,382, 294% higher than this company's loan of $25,000.
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