PPP Loan Data — Navas Sound Group Inc.,, Miami, FL
Navas Sound Group Inc., is a corporation located at 19712 Ne 11th Ct in Miami, Florida that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:JPMorgan Chase Bank, National Association
Navas Sound Group Inc., in Miami, FL received a Paycheck Protection Loan of $25,000 through JPMorgan Chase Bank, National Association, which was approved in May, 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, Navas Sound Group Inc.,'s 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Navas Sound Group Inc., reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $20,000
- Utilities: $1,510
- Rent: $3,490
Business Information - Navas Sound Group Inc., in Miami, FL
19712 Ne 11th Ct
Miami, FL 33179
All Other Support Services
NAICS code 561990
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Miami
In the Miami area, 49 businesses in the "All Other Support Services" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 2) and received an average PPP loan of $35,845 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Aventura Auto Tag Agency Inc
Celc Media LLC
CMF Technology Inc
Sobe Syga Corp
Stitch Count Inc
MBM Motorsports, Inc
Industry PPP Comparison Statistics
Nationwide, 33,705 businesses in the "All Other Support Services" industry received a total of $1.71B 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 7 employees, 250% higher than Navas Sound Group Inc.,'s reported 2 employees, and received an average PPP loan of $50,635, 103% higher than this company's loan of $25,000.
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Footnotes & Information
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