PPP Loan Data — Shorecrest Retail Partners, Orlando, FL
Shorecrest Retail Partners is a corporation located at 3361 Rouse Rd. Suite 235 in Orlando, Florida that received a Coronavirus-related PPP loan from the SBA of $46,030.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Wells Fargo Bank, National Association
Shorecrest Retail Partners in Orlando, FL received a Paycheck Protection Loan of $46,030 through Wells Fargo Bank, National Association, which was approved in May, 2020.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 2. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
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, Shorecrest Retail Partners' 2019 payroll expenses are estimated to be at least $220,944 (not accounting for salary amounts > $100k).
Because the 1 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, Shorecrest Retail Partners reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,030
Business Information - Shorecrest Retail Partners in Orlando, FL
3361 Rouse Rd. Suite 235
Orlando, FL 32817
Offices of Real Estate Agents and Brokers
NAICS code 531210
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Orlando
In the Orlando area, 94 businesses in the "Offices of Real Estate Agents and Brokers" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 1) and received an average PPP loan of $17,959 (compared to this company's $46,030).
Similar Nearby Businesses Who Received PPP Funding:
Dream Team Real Estate Professionals LLC
Lawhun Enterprises, LLC
Industry PPP Comparison Statistics
Nationwide, 255,794 businesses in the "Offices of Real Estate Agents and Brokers" industry received a total of $5.75B in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 2 employees, 100% higher than Shorecrest Retail Partners' reported 1 employees, and received an average PPP loan of $22,469, 51% lower than this company's loan of $46,030.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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