PPP Loan Data — Modani Boca Raton LLC, Miami, FL
Modani Boca Raton LLC is a limited liability company (LLC) located at 3050 Biscayne Boulevard Suite 801 in Miami, Florida that received a Coronavirus-related PPP loan from the SBA of $46,790.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bank of America, National Association
Modani Boca Raton LLC in Miami, FL received a Paycheck Protection Loan of $46,790 through Bank of America, 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 May, 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, Modani Boca Raton LLC's 2019 payroll expenses are estimated to be at least $224,592.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $56,148 per employee1
Reported PPP Proceed Usage:
On the PPP application, Modani Boca Raton LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,790
Business Information - Modani Boca Raton LLC in Miami, FL
3050 Biscayne Boulevard Suite 801
Miami, FL 33137
NAICS code 442110
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Miami
In the Miami area, 54 businesses in the "Furniture Stores" industry received a PPP loan. These local businesses reported an average of 7 employees (compared to this company's 4) and received an average PPP loan of $72,425 (compared to this company's $46,790).
Similar Nearby Businesses Who Received PPP Funding:
Modani Kop LLC
Espasso Florida Inc
Modani Fort Lauderdale
Tomas Frenes Design Studio
Modani Holdings LLC
Elemento Interiors Inc
KMP Furniture LLC
Modani Naples LLC
Modani Los Angeles LLC
Industry PPP Comparison Statistics
Nationwide, 16,379 businesses in the "Furniture Stores" industry received a total of $1.53B 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 10 employees, 150% higher than Modani Boca Raton LLC's reported 4 employees, and received an average PPP loan of $93,282, 99% higher than this company's loan of $46,790.
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Footnotes & Information
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