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PPP Loan Data — Onecoast LLC,
Atlanta, GA
Onecoast LLC
Entity: Limited Liability Company (LLC)
Industry: Furniture Merchant Wholesalers
Location: Atlanta, GA
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Onecoast LLC is a limited liability company (LLC) located at 40 John Portman Blvd Ste 1800 in Atlanta, Georgia that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in February, 2021.
$
PPP Loan Information
Loan #2243418500
Loan Size:
Jobs Retained:
229Loan Approved:
2021-02-20Loan Status:
Ongoing LoanLender:
Silicon Valley BankOnecoast LLC in Atlanta, GA received a Paycheck Protection Loan of $2M through Silicon Valley Bank, which was approved in February, 2021.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
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.
Read MoreUnderstanding 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.
Read MoreBased 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, Onecoast LLC's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 229 jobs retained, this equals an estimated average yearly compensation of $41,921 per employee1
Reported PPP Proceed Usage:
On the PPP application, Onecoast LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,999
Business Information - Onecoast LLC in Atlanta, GA
40 John Portman Blvd Ste 1800
Atlanta, GA 30303
Business Industry:
Furniture Merchant Wholesalers
NAICS code 423210
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: Y
Rural / Urban: Urban
Similar Companies near Atlanta
In the Atlanta area, 2 businesses in the "Furniture Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 128 employees (compared to this company's 229) and received an average PPP loan of $1,176,309 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Facilitec Inc
Atlanta, GA
Industry PPP Comparison Statistics
Nationwide, 5,183 businesses in the "Furniture Merchant Wholesalers" industry received a total of $678.92M 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 11 employees, 95% lower than Onecoast LLC's reported 229 employees, and received an average PPP loan of $130,989, 93% lower than this company's loan of $2M.
Onecoast LLC
Entity: Limited Liability Company (LLC)
Industry: Miscellaneous Financial Investment Activities
Location: Atlanta, GA
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Onecoast LLC is a limited liability company (LLC) located at 40 John Portman Blvd Suite 1800 in Atlanta, Georgia that received a Coronavirus-related PPP loan from the SBA of $3,961,955.00 in April, 2020.
$
PPP Loan Information
Loan #6195177104
Loan Size:
Jobs Retained:
255Loan Approved:
2020-04-14Loan Status:
Paid in Full or ForgivenLender:
Silicon Valley BankOnecoast LLC in Atlanta, GA received a Paycheck Protection Loan of $3.96M through Silicon Valley 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.
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.
Read MoreUnderstanding 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.
Read MoreBased 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, Onecoast LLC's 2019 payroll expenses are estimated to be at least $19.02M.
Based on their reported 255 jobs retained, this equals an estimated average yearly compensation of $74,578 per employee1
Reported PPP Proceed Usage:
On the PPP application, Onecoast LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $3,556,955
- Utilities: $5,000
- Mortgage Interest: $400,000
Business Information - Onecoast LLC in Atlanta, GA
40 John Portman Blvd Suite 1800
Atlanta, GA 30303
Business Industry:
Miscellaneous Financial Investment Activities
NAICS code 523999
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
Similar Companies near Atlanta
In the Atlanta area, 3 businesses in the "Miscellaneous Financial Investment Activities" industry received a PPP loan. These local businesses reported an average of 86 employees (compared to this company's 255) and received an average PPP loan of $1,334,540 (compared to this company's $3.96M).
Similar Nearby Businesses Who Received PPP Funding:
Rodger Bateau
Atlanta, GA
Danie Lamadieu
Atlanta, GA
Industry PPP Comparison Statistics
Nationwide, 12,454 businesses in the "Miscellaneous Financial Investment Activities" industry received a total of $574.95M 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 3 employees, 99% lower than Onecoast LLC's reported 255 employees, and received an average PPP loan of $46,166, 99% lower than this company's loan of $3.96M.
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.
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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