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PPP Loan Data — Pharmacare Inc, Trujillo Alto, PR

SBA PPP loan data, payroll data, and salaries for Pharmacare Inc
PR

Pharmacare Inc

Entity: Corporation

Industry: Pharmacies and Drug Stores

Location: Trujillo Alto, PR

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Pharmacare Inc is a corporation located at Saint Just Industrial Park Lot 7 in Trujillo Alto, Puerto Rico that received a Coronavirus-related PPP loan from the SBA of $1,941,500.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least 274 people during the applicable loan loan period.

$ PPP Loan Information Loan #2623147203

Loan Size:

$1.94M

Jobs Retained:

274

Loan Approved:

2020-04-16

Loan Status:

Ongoing Loan

Lender:

Banco Popular de Puerto Rico

Pharmacare Inc in Trujillo Alto, PR received a Paycheck Protection Loan of $1.94M through Banco Popular de Puerto Rico, which was approved in April, 2020.

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 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, Pharmacare Inc's 2019 payroll expenses are estimated to be at least $9.32M.

Based on their reported 274 jobs retained, this equals an estimated average yearly compensation of $34,012 per employee1

Reported PPP Proceed Usage:

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

  • Payroll: $1,456,250
  • Utilities: $200,494
  • Rent: $284,756

Business Information - Pharmacare Inc in Trujillo Alto, PR

Pharmacare Inc
Saint Just Industrial Park Lot 7
Trujillo Alto, PR 976

Business Industry:
Pharmacies and Drug Stores
NAICS code 446110

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Rural

Trujillo Alto County, PR — SBA Office 0252 — Congressional District: PR-

Similar Companies near Trujillo Alto

In the Trujillo Alto area, 6 businesses in the "Pharmacies and Drug Stores" industry received a PPP loan. These local businesses reported an average of 60 employees (compared to this company's 274) and received an average PPP loan of $393,333 (compared to this company's $1.94M).

Industry PPP Comparison Statistics

Nationwide, 17,486 businesses in the "Pharmacies and Drug Stores" industry received a total of $1,667,544,888.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 12 employees, 96% lower than Pharmacare Inc's reported 274 employees, and received an average PPP loan of $95,365, 95% lower than this company's loan of $1.94M.

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/pharmacare-inc-trujillo-alto-pr