PPP Loan Data — Palm Beach Imports Inc, Miami, FL
Palm Beach Imports Inc is a corporation located at 2060 Biscayne Blvd in Miami, Florida that received a Coronavirus-related PPP loan from the SBA of $6,245,749.00 in April, 2020.
$ PPP Loan Information
Lender:TRUIST BANK D/B/A BRANCH BANKING & TRUST CO
Palm Beach Imports Inc in Miami, FL received a Paycheck Protection Loan of $6.25M through TRUIST BANK D/B/A BRANCH BANKING & TRUST CO, which was approved in April, 2020.
Based on standard PPP eligibility rules, Palm Beach Imports Inc's total 2019 payroll expenses were approximately $29.98M in order to qualify for the PPP loan amount received.
Based on their reported 437 jobs retained, this equals an estimated average yearly compensation of $68,603 per employee1.
Business Information - Palm Beach Imports Inc in Miami, FL
2060 Biscayne Blvd
Miami, FL 33137
New Car Dealers (NAICS code 441110)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: FL-24
Similar Companies near Miami
In the Miami area, 6 businesses in the "New Car Dealers" industry received a PPP loan. These local businesses reported an average of 206 employees (compared to this company's 437) and received an average PPP loan of $2,950,458 (compared to this company's $6.25M).
Similar Nearby Businesses Who Received PPP Funding:
Braman Motors, Inc.
Braman Cadillac, Inc.
Miami Shores Automotive, LLC DBA Tropical Chevrolet
Braman Hyundai, Inc.
Braman Automotive, Inc.
Industry PPP Comparison Statistics
Nationwide, 16,570 businesses in the "New Car Dealers" industry received a total of $10,869,996,969.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 47 employees, 89% lower than Palm Beach Imports Inc's reported 437 employees, and received an average PPP loan of $656,005, 89% lower than this company's loan of $6.25M.
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