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PPP Loan Data — Shpc New Jersey LLC, Boca Raton, FL

SBA PPP loan data, payroll data, and salaries for Shpc New Jersey LLC

Shpc New Jersey LLC

Entity: Limited Liability Company (LLC)

Industry: Insurance Agencies and Brokerages

Location: Boca Raton, FL

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Shpc New Jersey LLC is a limited liability company (LLC) located at 301 Yamato Rd Suite 2222 in Boca Raton, Florida that received a Coronavirus-related PPP loan from the SBA of $131,585.00 in April, 2020.

$ PPP Loan Information
Loan #2931707109

Loan Size:


Jobs Retained:


Loan Approved:


Loan Status:

Paid in Full or Forgiven


First National Bank of Coffee County

Shpc New Jersey LLC in Boca Raton, FL received a Paycheck Protection Loan of $131,585 through First National Bank of Coffee County, 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 April, 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, Shpc New Jersey LLC's 2019 payroll expenses are estimated to be at least $631,608.

Based on their reported 8 jobs retained, this equals an estimated average yearly compensation of $78,951 per employee1

Reported PPP Proceed Usage:

On the PPP application, Shpc New Jersey LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $105,268
  • Utilities: $1,500
  • Rent: $3,500
  • Health Care: $21,317

Business Information - Shpc New Jersey LLC in Boca Raton, FL

Shpc New Jersey LLC
301 Yamato Rd Suite 2222
Boca Raton, FL 33431

Business Industry:
Insurance Agencies and Brokerages
NAICS code 524210

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: New Business or 2 years or less

LMI Zone: N

HUBZone: Y

Rural / Urban: Urban

Palm Beach County, FL — SBA Office 0455 — Congressional District: FL-22

Businesses Using Same Address:

There are 2 other businesses that received a PPP loan registered to the same address as Shpc New Jersey LLC.

Schwarz Insurance Agency, Inc
Insurance Agencies and Brokerages

$791,600 PPP Loan

Seeman Holtz Property And Casualty LLC
Direct Property and Casualty Insurance Carriers

$4.27M PPP Loan

Similar Companies near Boca Raton

In the Boca Raton area, 137 businesses in the "Insurance Agencies and Brokerages" industry received a PPP loan. These local businesses reported an average of 6 employees (compared to this company's 8) and received an average PPP loan of $69,620 (compared to this company's $131,585).

Industry PPP Comparison Statistics

Nationwide, 148,596 businesses in the "Insurance Agencies and Brokerages" industry received a total of $5.85B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.

PPP recipients in this industry report an average of 4 employees, 50% lower than Shpc New Jersey LLC's reported 8 employees, and received an average PPP loan of $39,368, 70% lower than this company's loan of $131,585.

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.

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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 - The Civil Employee's Resource **