PPP Loan Data — National Securities Corporation, Boca Raton, FL

National Securities Corporation

Entity: Corporation

Industry: Securities Brokerage

Location: Boca Raton, FL

National Securities Corporation is a corporation located at 5000 T-rex Avenue Suite 300, in Boca Raton, Florida that received a Coronavirus-related PPP loan from the SBA of $5,523,738.00 in April, 2020.

$ PPP Loan Information
Loan #9761297006

Loan Size:

$5.52M

Jobs Retained:

346

Loan Approved:

2020-04-09

Loan Status:

Paid in Full or Forgiven

Lender:

Axos Bank

National Securities Corporation in Boca Raton, FL received a Paycheck Protection Loan of $5.52M through Axos Bank, 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 April, 2022.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

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, National Securities Corporation's 2019 payroll expenses are estimated to be at least $26.51M.

Based on their reported 346 jobs retained, this equals an estimated average yearly compensation of $76,630 per employee¹

Reported PPP Proceed Usage:

On the PPP application, National Securities Corporation reported intending to use the proceeds of their PPP loan for the following expenses:

Payroll: $5,523,738

Because the loan received by National Securities Corporation is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - National Securities Corporation in Boca Raton, FL

National Securities Corporation
5000 T-rex Avenue Suite 300,
Boca Raton, FL 33431

Business Industry:
Securities Brokerage
NAICS code 523120

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Palm Beach County, FL — SBA Office 0455 — Congressional District: FL-23

Similar Companies near Boca Raton

In the Boca Raton area, 21 businesses in the "Securities Brokerage" industry received a PPP loan. These local businesses reported an average of 25 employees (compared to this company's 346) and received an average PPP loan of $389,507 (compared to this company's $5.52M).

Similar Nearby Businesses Who Received PPP Funding:

Zeus Financial, LLC
Boca Raton, FL

$284,467 PPP Loan

Meridian Financial & Co, Inc
Boca Raton, FL

$50,000 PPP Loan

Noble Financial Group,Inc
Boca Raton, FL

$20,585 PPP Loan

Epic Capital Securities Corp
Boca Raton, FL

$124,200 PPP Loan

Patrick Abrunzo
Boca Raton, FL

$10,399 PPP Loan

Stoll Financial Corporation
Boca Raton, FL

$49,040 PPP Loan

Tom Holly
Boca Raton, FL

$20,833 PPP Loan

Noble Capital Markets, Inc
Boca Raton, FL

$412,893 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 4,352 businesses in the "Securities Brokerage" industry received a total of $312.39M 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, 99% lower than National Securities Corporation's reported 346 employees, and received an average PPP loan of $71,780, 99% lower than this company's loan of $5.52M.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.

All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.

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