PPP Loan Data — Omnipoint Us, LLC, Miami, FL
Omnipoint Us, LLC is a limited liability company (LLC) located at 14707 Dixie Hwy in Miami, Florida that received a Coronavirus-related PPP loan from the SBA of $1,962,663.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Fifth Third Bank
Omnipoint Us, LLC in Miami, FL received a Paycheck Protection Loan of $1.96M through Fifth Third 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 June, 2021.The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 84 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 94. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
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, Omnipoint Us, LLC's 2019 payroll expenses are estimated to be at least $9.42M (not accounting for salary amounts > $100k).
Because the 84 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, Omnipoint Us, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,962,663
Business Information - Omnipoint Us, LLC in Miami, FL
14707 Dixie Hwy
Miami, FL 33176
Temporary Help Services
NAICS code 561320
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, 12 businesses in the "Temporary Help Services" industry received a PPP loan. These local businesses reported an average of 38 employees (compared to this company's 84) and received an average PPP loan of $472,687 (compared to this company's $1.96M).
Similar Nearby Businesses Who Received PPP Funding:
Marlisis Licea Jimenez
Maria De Jesus Avalos Alvarez
Jorge Castellanos Ceballos
MAC Staffing Solutions Inc
Moravia D Gonzalez Barragan
Industry PPP Comparison Statistics
Nationwide, 8,994 businesses in the "Temporary Help Services" industry received a total of $3.65B 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 51 employees, 39% lower than Omnipoint Us, LLC's reported 84 employees, and received an average PPP loan of $405,841, 79% lower than this company's loan of $1.96M.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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