PPP Loan Data — Region Security Services Inc, Miami, FL
Region Security Services Inc is a corporation located at 1100 Nw 72 Avenue in Miami, Florida that received a Coronavirus-related PPP loan from the SBA of $1,630,204.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 395 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:United Community Bank
Region Security Services Inc in Miami, FL received a Paycheck Protection Loan of $1.63M through United Community 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 January, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
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, Region Security Services Inc's 2019 payroll expenses are estimated to be at least $7.82M.
Based on their reported 395 jobs retained, this equals an estimated average yearly compensation of $19,810 per employee1
Reported PPP Proceed Usage:
On the PPP application, Region Security Services Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,630,204
Business Information - Region Security Services Inc in Miami, FL
1100 Nw 72 Avenue
Miami, FL 33172
Security Guards and Patrol Services
NAICS code 561612
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Miami
In the Miami area, 14 businesses in the "Security Guards and Patrol Services" industry received a PPP loan. These local businesses reported an average of 87 employees (compared to this company's 395) and received an average PPP loan of $336,121 (compared to this company's $1.63M).
Similar Nearby Businesses Who Received PPP Funding:
Buena Vista Security & Protection Agency LLC
Supra Security Inc
Dark Knight Security Services Inc
Custom Protection Security, Inc
Sketch Security Service Inc
Safeguard Protection Services
J B Security Private Corp
Industry PPP Comparison Statistics
Nationwide, 14,660 businesses in the "Security Guards and Patrol Services" industry received a total of $1.46B 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 18 employees, 95% lower than Region Security Services Inc's reported 395 employees, and received an average PPP loan of $99,483, 94% lower than this company's loan of $1.63M.
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Footnotes & Information
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