PPP Loan Data — Medi-Trans Inc, Pompano Beach, FL
Medi-Trans Inc is a corporation located at 1350 South Powerline Rd in Pompano Beach, Florida that received a Coronavirus-related PPP loan from the SBA of $2,398,248.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 262 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Truist Bank d/b/a Branch Banking & Trust Co
Medi-Trans Inc in Pompano Beach, FL received a Paycheck Protection Loan of $2.4M through Truist Bank d/b/a Branch Banking & Trust Co, which was approved in April, 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, Medi-Trans Inc's 2019 payroll expenses are estimated to be at least $11.51M.
Based on their reported 262 jobs retained, this equals an estimated average yearly compensation of $43,937 per employee1
Reported PPP Proceed Usage:
On the PPP application, Medi-Trans Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,398,248
Business Information - Medi-Trans Inc in Pompano Beach, FL
1350 South Powerline Rd
Pompano Beach, FL 33069
NAICS code 621910
Business Owner Demographics
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Pompano Beach
In the Pompano Beach area, 2 businesses in the "Ambulance Services" industry received a PPP loan. These local businesses reported an average of 134 employees (compared to this company's 262) and received an average PPP loan of $1,244,377 (compared to this company's $2.4M).
Similar Nearby Businesses Who Received PPP Funding:
Commercial Medical Escorts Inc
Pompano Beach, FL
Industry PPP Comparison Statistics
Nationwide, 3,341 businesses in the "Ambulance Services" industry received a total of $860.13M 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 36 employees, 86% lower than Medi-Trans Inc's reported 262 employees, and received an average PPP loan of $257,448, 89% lower than this company's loan of $2.4M.
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Footnotes & Information
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