PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Rio Atlantic Inc, Punta Gorda, FL

ALERT: There are 2 PPP loans for a total of $54,788 in our database for businesses with the name "Rio Atlantic Inc" in Punta Gorda, FL. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Rio Atlantic Inc
FL

Rio Atlantic Inc

Entity: Corporation

Industry: Office Administrative Services

Location: Punta Gorda, FL

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Rio Atlantic Inc is a corporation located at 8270 Burnt Store Rd Unit 1 in Punta Gorda, Florida that received a Coronavirus-related PPP loan from the SBA of $27,394.00 in May, 2021.

$ PPP Loan Information
Loan #7590349006

Loan Size:

$27,394

Jobs Retained:

2

Loan Approved:

2021-05-26

Loan Status:

Active Un-Disbursed

Lender:

Banesco USA
PPP Funds Undisbursed

Rio Atlantic Inc in Punta Gorda, FL received a Paycheck Protection Loan of $27,394 through Banesco USA, which was approved in May, 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 $27,394 in approved PPP funding has not been disbursed. The loan's status was last updated by the SBA in May, 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, Rio Atlantic Inc's 2019 payroll expenses are estimated to be at least $131,491.

Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $65,746 per employee1

Reported PPP Proceed Usage:

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

  • Payroll: $27,392
  • Utilities: $1

Business Information - Rio Atlantic Inc in Punta Gorda, FL

Rio Atlantic Inc
8270 Burnt Store Rd Unit 1
Punta Gorda, FL 33950

Business Industry:
Office Administrative Services
NAICS code 561110

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

Charlotte County, FL — SBA Office 0455 — Congressional District: FL-17

Similar Companies near Punta Gorda

In the Punta Gorda area, 10 businesses in the "Office Administrative Services" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 2) and received an average PPP loan of $21,505 (compared to this company's $27,394).

Industry PPP Comparison Statistics

Nationwide, 44,947 businesses in the "Office Administrative Services" industry received a total of $2.36B 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 6 employees, 200% higher than Rio Atlantic Inc's reported 2 employees, and received an average PPP loan of $52,468, 92% higher than this company's loan of $27,394.

SBA PPP loan data, payroll data, and salaries for Rio Atlantic, Inc
FL

Rio Atlantic, Inc

Entity: Corporation

Industry: Other Management Consulting Services

Location: Punta Gorda, FL

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Rio Atlantic, Inc is a corporation located at 0 P.o Box 512116 in Punta Gorda, Florida that received a Coronavirus-related PPP loan from the SBA of $27,394.00 in April, 2020.

$ PPP Loan Information
Loan #4617187305

Loan Size:

$27,394

Jobs Retained:

2

Loan Approved:

2020-04-29

Loan Status:

Ongoing Loan

Lender:

Harvest Small Business Finance, LLC

Rio Atlantic, Inc in Punta Gorda, FL received a Paycheck Protection Loan of $27,394 through Harvest Small Business Finance, LLC, 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, Rio Atlantic, Inc's 2019 payroll expenses are estimated to be at least $131,491.

Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $65,746 per employee1

Reported PPP Proceed Usage:

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

  • Payroll: $27,394

Business Information - Rio Atlantic, Inc in Punta Gorda, FL

Rio Atlantic, Inc
0 P.o Box 512116
Punta Gorda, FL 33951

Business Industry:
Other Management Consulting Services
NAICS code 541618

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: Y

HUBZone: N

Rural / Urban: Urban

Charlotte County, FL — SBA Office 0455 — Congressional District: FL-17

Similar Companies near Punta Gorda

In the Punta Gorda area, 12 businesses in the "Other Management Consulting Services" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 2) and received an average PPP loan of $46,394 (compared to this company's $27,394).

Industry PPP Comparison Statistics

Nationwide, 84,014 businesses in the "Other Management Consulting Services" industry received a total of $3.74B 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 4 employees, 100% higher than Rio Atlantic, Inc's reported 2 employees, and received an average PPP loan of $44,524, 63% higher than this company's loan of $27,394.

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.

Search FederalPay's Full PPP Loan Database

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/rio-atlantic-inc-punta-gorda-fl