PPP Loan Data — Suncoast Molders Inc, Seminole, FL
Suncoast Molders Inc is a corporation located at 10760 76th Ct N in Seminole, Florida that received a Coronavirus-related PPP loan from the SBA of $47,100.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least seven people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:First Home Bank
Suncoast Molders Inc in Seminole, FL received a Paycheck Protection Loan of $47,100 through First Home Bank, 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
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, Suncoast Molders Inc's 2019 payroll expenses are estimated to be at least $226,080.
Based on their reported 7 jobs retained, this equals an estimated average yearly compensation of $32,297 per employee1
Reported PPP Proceed Usage:
On the PPP application, Suncoast Molders Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $47,100
Business Information - Suncoast Molders Inc in Seminole, FL
10760 76th Ct N
Seminole, FL 33777
All Other Plastics Product Manufacturing
NAICS code 326199
Business Owner Demographics
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 Seminole
In the Seminole area, 3 businesses in the "All Other Plastics Product Manufacturing" industry received a PPP loan. These local businesses reported an average of 7 employees (compared to this company's 7) and received an average PPP loan of $41,245 (compared to this company's $47,100).
Similar Nearby Businesses Who Received PPP Funding:
Suncoast Molders Inc
JIT Components Inc
Industry PPP Comparison Statistics
Nationwide, 5,013 businesses in the "All Other Plastics Product Manufacturing" industry received a total of $1.67B 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 34 employees, 386% higher than Suncoast Molders Inc's reported 7 employees, and received an average PPP loan of $333,733, 609% higher than this company's loan of $47,100.
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Footnotes & Information
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