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PPP Loan Data — Scandinavian Bc Inc,
Miami, FL
Scandinavian Bc Inc
Entity: Corporation
Industry: Caterers
Location: Miami, FL
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Scandinavian Bc Inc is a corporation located at 6850 Coral Way Ste 205 in Miami, Florida that received a Coronavirus-related PPP loan from the SBA of $35,222.00 in February, 2021.
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PPP Loan Information
Loan #3334108501
Loan Size:
Jobs Retained:
4Loan Approved:
2021-02-23Loan Status:
Ongoing LoanLender:
Square Capital, LLCScandinavian Bc Inc in Miami, FL received a Paycheck Protection Loan of $35,222 through Square Capital, LLC, which was approved in February, 2021.
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 MoreUnderstanding 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 MoreBased 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, Scandinavian Bc Inc's 2019 payroll expenses are estimated to be at least $169,066.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $42,267 per employee1
Reported PPP Proceed Usage:
On the PPP application, Scandinavian Bc Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $35,222
Business Information - Scandinavian Bc Inc in Miami, FL
6850 Coral Way Ste 205
Miami, FL 33155
Business Industry:
Caterers
NAICS code 722320
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
Similar Companies near Miami
In the Miami area, 32 businesses in the "Caterers" industry received a PPP loan. These local businesses reported an average of 10 employees (compared to this company's 4) and received an average PPP loan of $87,939 (compared to this company's $35,222).
Similar Nearby Businesses Who Received PPP Funding:
Yunier Gonzalez Echevarria
Miami, FL
Gabriel Diaz
Miami, FL
Catherine Hinds
Bal Harbour, FL
Mena Catering Inc
Miami, FL
Rodolfo Ramos
Miami, FL
Chef Cat's LLC
Bal Harbour, FL
A Joy Wallace Catering Production, Inc
Miami, FL
A R C Nick S Deli Inc
Bay Harbor Islands, FL
Dalvin Ramirez
Miami, FL
Industry PPP Comparison Statistics
Nationwide, 85,824 businesses in the "Caterers" industry received a total of $2.99B 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, the same amount reported by Scandinavian Bc Inc and received an average PPP loan of $34,853, 1% lower than this company's loan of $35,222.
Scandinavian Bc Inc
Entity: Corporation
Industry: Unclassified Establishments
Location: Miami, FL
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Scandinavian Bc Inc is a corporation located at 6850 Coral Way Suite 205 in Miami, Florida that received a Coronavirus-related PPP loan from the SBA of $25,159.00 in May, 2020.
$
PPP Loan Information
Loan #3578697710
Loan Size:
Jobs Retained:
4Loan Approved:
2020-05-01Loan Status:
Paid in Full or ForgivenLender:
Square Capital, LLCScandinavian Bc Inc in Miami, FL received a Paycheck Protection Loan of $25,159 through Square Capital, LLC, which was approved in May, 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 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 MoreUnderstanding 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 MoreBased 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, Scandinavian Bc Inc's 2019 payroll expenses are estimated to be at least $120,763.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,191 per employee1
Reported PPP Proceed Usage:
On the PPP application, Scandinavian Bc Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $18,869
- Utilities: $3,145
- Mortgage Interest: $3,145
Business Information - Scandinavian Bc Inc in Miami, FL
6850 Coral Way Suite 205
Miami, FL 33155
Business Industry:
Unclassified Establishments
NAICS code 999990
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
Similar Companies near Miami
In the Miami area, 90 businesses in the "Unclassified Establishments" industry received a PPP loan. These local businesses reported an average of 13 employees (compared to this company's 4) and received an average PPP loan of $65,465 (compared to this company's $25,159).
Similar Nearby Businesses Who Received PPP Funding:
Destination Care Corporation
Miami, FL
Chronic Care Coordinators Inc
Pinecrest, FL
Mreit LLC
Bay Harbor Islands, FL
CSG Group Us, Inc
Miami, FL
Megapixall
Miami, FL
Momentum & Company Inc
Miami, FL
Inza Plus, LLC
Miami, FL
Dbpwm Inc
Miami, FL
TBA Miami LLC
Miami, FL
Industry PPP Comparison Statistics
Nationwide, 85,647 businesses in the "Unclassified Establishments" industry received a total of $3.67B 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 10 employees, 150% higher than Scandinavian Bc Inc's reported 4 employees, and received an average PPP loan of $42,878, 70% higher than this company's loan of $25,159.
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.
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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