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PPP Loan Data — PAS Cargo USA Inc, Miami Lakes, FL

SBA PPP loan data, payroll data, and salaries for PAS Cargo USA Inc
FL

PAS Cargo USA Inc

Entity: Subchapter S Corporation

Industry: Marine Cargo Handling

Location: Miami Lakes, FL

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PAS Cargo USA Inc is a subchapter s corporation located at 10901 Nw 146th St in Miami Lakes, Florida that received a Coronavirus-related PPP loan from the SBA of $609,601.00 in March, 2021.

$ PPP Loan Information
Loan #1643138602

Loan Size:

$609,601

Jobs Retained:

61

Loan Approved:

2021-03-13

Loan Status:

Active Un-Disbursed

Lender:

City National Bank of Florida
PPP Funds Undisbursed

PAS Cargo USA Inc in Miami Lakes, FL received a Paycheck Protection Loan of $609,601 through City National Bank of Florida, which was approved in March, 2021.

While this loan has been approved by the Small Business Administration, the lender has not reported to the SBA that the loan funds were disbursed to the borrower. According to SBA records, a total of $609,601 in approved PPP funding has not been disbursed. The loan's status was last updated by the SBA in March, 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 More
Understanding 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 More

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, PAS Cargo USA Inc's 2019 payroll expenses are estimated to be at least $2.93M.

Based on their reported 61 jobs retained, this equals an estimated average yearly compensation of $47,969 per employee1

Reported PPP Proceed Usage:

On the PPP application, PAS Cargo USA Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $609,599
  • Utilities: $1

Business Information - PAS Cargo USA Inc in Miami Lakes, FL

PAS Cargo USA Inc
10901 Nw 146th St
Miami Lakes, FL 33018

Business Industry:
Marine Cargo Handling
NAICS code 488320

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

Miami-dade County, FL — SBA Office 0455 — Congressional District: FL-25

Industry PPP Comparison Statistics

Nationwide, 446 businesses in the "Marine Cargo Handling" industry received a total of $120.99M 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 24 employees, 61% lower than PAS Cargo USA Inc's reported 61 employees, and received an average PPP loan of $271,286, 55% lower than this company's loan of $609,601.

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.

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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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Source: www.federalpay.org/paycheck-protection-program/pas-cargo-usa-inc-miami-lakes-fl