PPP Loan Data — NDM Investments Payroll LLC, Boca Raton, FL
NDM Investments Payroll LLC is a limited liability company (LLC) located at 1 Town Center Rd, Ste 600 in Boca Raton, Florida that received a Coronavirus-related PPP loan from the SBA of $1,580,919.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bank of America, National Association
NDM Investments Payroll LLC in Boca Raton, FL received a Paycheck Protection Loan of $1.58M 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 April, 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, NDM Investments Payroll LLC's 2019 payroll expenses are estimated to be at least $7.59M.
Based on their reported 205 jobs retained, this equals an estimated average yearly compensation of $37,017 per employee1
Reported PPP Proceed Usage:
On the PPP application, NDM Investments Payroll LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,580,919
Business Information - NDM Investments Payroll LLC in Boca Raton, FL
1 Town Center Rd, Ste 600
Boca Raton, FL 33486
NAICS code 541214
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Boca Raton
In the Boca Raton area, 3 businesses in the "Payroll Services" industry received a PPP loan. These local businesses reported an average of 72 employees (compared to this company's 205) and received an average PPP loan of $572,502 (compared to this company's $1.58M).
Similar Nearby Businesses Who Received PPP Funding:
Green Payroll Inc
Boca Raton, FL
Boca Raton, FL
Industry PPP Comparison Statistics
Nationwide, 3,903 businesses in the "Payroll Services" industry received a total of $573.98M 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 16 employees, 92% lower than NDM Investments Payroll LLC's reported 205 employees, and received an average PPP loan of $147,061, 91% lower than this company's loan of $1.58M.
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Footnotes & Information
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