PPP Loan Data — Nicholas Financial Inc, Clearwater, FL
Nicholas Financial Inc is a corporation located at 2454 Mcmullen Booth Rd in Clearwater, Florida that received a Coronavirus-related PPP loan from the SBA of $3,243,900.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Fifth Third Bank
Nicholas Financial Inc in Clearwater, FL received a Paycheck Protection Loan of $3.24M through Fifth Third Bank, 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, Nicholas Financial Inc's 2019 payroll expenses are estimated to be at least $15.57M.
Based on their reported 274 jobs retained, this equals an estimated average yearly compensation of $56,827 per employee1
Reported PPP Proceed Usage:
On the PPP application, Nicholas Financial Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $3,243,900
Business Information - Nicholas Financial Inc in Clearwater, FL
2454 Mcmullen Booth Rd
Clearwater, FL 33759
NAICS code 522220
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 16,168 businesses in the "Sales Financing" industry received a total of $411.76M 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 2 employees, 99% lower than Nicholas Financial Inc's reported 274 employees, and received an average PPP loan of $25,468, 99% lower than this company's loan of $3.24M.
FederalPay's PPP Information Policy
Footnotes & Information
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