PPP Loan Data — Mergnicstech LLC, Doral, FL
Mergnicstech LLC is a corporation located at 2262 Nw 94 Ave in Doral, Florida that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least five people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Amerant Bank, National Association
Mergnicstech LLC in Doral, FL received a Paycheck Protection Loan of $25,000 through Amerant Bank, National Association, 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 March, 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, Mergnicstech 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, Mergnicstech LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $23,500
- Utilities: $500
- Rent: $1,000
Business Information - Mergnicstech LLC in Doral, FL
2262 Nw 94 Ave
Doral, FL 33172
NAICS code 443142
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Doral
In the Doral area, 34 businesses in the "Electronics Stores" industry received a PPP loan. These local businesses reported an average of 14 employees (compared to this company's 5) and received an average PPP loan of $82,608 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Allplus Computer Systems Corp
Sunshine Computers And Software Inc
Nuovo Smart Corp
Nuovo Smart Corp DBA Kronsmart
Am & Bn Electronics
YSR Wireless Inc
Industry PPP Comparison Statistics
Nationwide, 13,096 businesses in the "Electronics Stores" industry received a total of $848.58M 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 8 employees, 60% higher than Mergnicstech LLC's reported 5 employees, and received an average PPP loan of $64,797, 159% higher than this company's loan of $25,000.
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Footnotes & Information
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