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PPP Loan Data — Oxygen Development LLC,
Palm Springs, FL
Oxygen Development LLC
Entity: Corporation
Industry: All Other Miscellaneous Manufacturing
Location: Palm Springs, FL
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Oxygen Development LLC is a corporation located at 1525 S Congress Ave in Palm Springs, Florida that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in January, 2021.
The company has reported itself as a male owned business, and employed at least 221 people during the applicable loan loan period.
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PPP Loan Information
Loan #4704318301
Loan Size:
Jobs Retained:
221Loan Approved:
2021-01-23Loan Status:
Ongoing LoanLender:
Fifth Third BankOxygen Development LLC in Palm Springs, FL received a Paycheck Protection Loan of $2M through Fifth Third Bank, which was approved in January, 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, Oxygen Development LLC's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 221 jobs retained, this equals an estimated average yearly compensation of $43,439 per employee1
Reported PPP Proceed Usage:
On the PPP application, Oxygen Development LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,998
- Utilities: $1
Business Information - Oxygen Development LLC in Palm Springs, FL
1525 S Congress Ave
Palm Springs, FL 33406
Business Industry:
All Other Miscellaneous Manufacturing
NAICS code 339999
Business Owner Demographics
Race: Unreported
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: N
Rural / Urban: Urban
Similar Companies near Palm Springs
In the Palm Springs area, 15 businesses in the "All Other Miscellaneous Manufacturing" industry received a PPP loan. These local businesses reported an average of 22 employees (compared to this company's 221) and received an average PPP loan of $201,312 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Distinctive Dental Design Inc
West Palm Beach, FL
Erik Himber Interiors Inc
West Palm Beach, FL
Yadira Cerrato
West Palm Beach, FL
Clifford Nicolas
West Palm Beach, FL
JM Custom Woodworking, Inc
Mangonia Park, FL
JM Custom Millworks, Inc
Mangonia Park, FL
MD Enterprises & Assoc Inc
West Palm Beach, FL
Rhonda Wells
West Palm Beach, FL
Industry PPP Comparison Statistics
Nationwide, 17,138 businesses in the "All Other Miscellaneous Manufacturing" industry received a total of $2.05B 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 12 employees, 95% lower than Oxygen Development LLC's reported 221 employees, and received an average PPP loan of $119,791, 94% lower than this company's loan of $2M.
Oxygen Development LLC
Entity: Corporation
Industry: Toilet Preparation Manufacturing
Location: Palm Springs, FL
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Oxygen Development LLC is a corporation located at 1525 S Congress Ave in Palm Springs, Florida that received a Coronavirus-related PPP loan from the SBA of $3,125,000.00 in May, 2020.
$
PPP Loan Information
Loan #1128527807
Loan Size:
Jobs Retained:
217Loan Approved:
2020-05-01Loan Status:
Paid in Full or ForgivenLender:
Fifth Third BankOxygen Development LLC in Palm Springs, FL received a Paycheck Protection Loan of $3.13M through Fifth Third Bank, which was approved in May, 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 July, 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, Oxygen Development LLC's 2019 payroll expenses are estimated to be at least $15M.
Based on their reported 217 jobs retained, this equals an estimated average yearly compensation of $69,124 per employee1
Reported PPP Proceed Usage:
On the PPP application, Oxygen Development LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $3,125,000
Business Information - Oxygen Development LLC in Palm Springs, FL
1525 S Congress Ave
Palm Springs, FL 33406
Business Industry:
Toilet Preparation Manufacturing
NAICS code 325620
Business Owner Demographics
Race: Unreported
Ethnicity: Not Hispanic or Latino
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 1,252 businesses in the "Toilet Preparation Manufacturing" industry received a total of $308.8M 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 23 employees, 89% lower than Oxygen Development LLC's reported 217 employees, and received an average PPP loan of $246,649, 92% lower than this company's loan of $3.13M.
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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