PPP Loan Data — Shapes Secrets LLC, Medley, FL
Shapes Secrets LLC
Location: Medley, FLTweet This • Search All PPP Data
Shapes Secrets LLC is a corporation located at 10049 Nw 89th Ave Unit 10 in Medley, Florida that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least three people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:City National Bank of Florida
Shapes Secrets LLC in Medley, FL received a Paycheck Protection Loan of $25,000 through City National Bank of Florida, 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 March, 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, Shapes Secrets LLC's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Shapes Secrets LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $18,750
- Utilities: $6,250
Business Information - Shapes Secrets LLC in Medley, FL
10049 Nw 89th Ave Unit 10
Medley, FL 33178
Other Miscellaneous Durable Goods Merchant Wholesalers
NAICS code 423990
Business Owner Demographics
Ethnicity: Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Medley
In the Medley area, 138 businesses in the "Other Miscellaneous Durable Goods Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 3) and received an average PPP loan of $55,880 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Dital Group LLC
South America Cable Trade Inc
JR Aero Parts Corp
Viking Life-Saving Equipment (America), Inc
Verlanz Healthy Fodds LLC
Hontus LTD Inc
EMG Distribution LLC
Industry PPP Comparison Statistics
Nationwide, 26,568 businesses in the "Other Miscellaneous Durable Goods Merchant Wholesalers" industry received a total of $1.98B 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 7 employees, 133% higher than Shapes Secrets LLC's reported 3 employees, and received an average PPP loan of $74,615, 198% higher than this company's loan of $25,000.
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