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PPP Loan Data — Supermercados Econo, Inc, Carolina, PR

SBA PPP loan data, payroll data, and salaries for Supermercados Econo, Inc
PR

Supermercados Econo, Inc

Entity: Corporation

Industry: General Line Grocery Merchant Wholesalers

Location: Carolina, PR

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Supermercados Econo, Inc is a corporation located at 1428 Rio Danubio St Sabana Abajo Industrial Park in Carolina, Puerto Rico that received a Coronavirus-related PPP loan from the SBA of $2,716,000.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.72M

Jobs Retained:

413

Loan Approved:

2020-04-27

Lender:

BANCO POPULAR DE PUERTO RICO

Supermercados Econo, Inc in Carolina, PR received a Paycheck Protection Loan of $2.72M through BANCO POPULAR DE PUERTO RICO, which was approved in April, 2020.

Based on standard PPP eligibility rules, Supermercados Econo, Inc's total 2019 payroll expenses were approximately $13.04M in order to qualify for the PPP loan amount received.

Based on their reported 413 jobs retained, this equals an estimated average yearly compensation of $31,566 per employee1.

Because the loan received by Supermercados Econo, Inc is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Supermercados Econo, Inc in Carolina, PR

Supermercados Econo, Inc
1428 Rio Danubio St Sabana Abajo Industrial Park
Carolina, PR 00983

Business Industry

General Line Grocery Merchant Wholesalers (NAICS code 424410)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: PR-

Industry PPP Comparison Statistics

Nationwide, 4,442 businesses in the "General Line Grocery Merchant Wholesalers" industry received a total of $596,799,136.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 14 employees, 97% lower than Supermercados Econo, Inc's reported 413 employees, and received an average PPP loan of $134,354, 95% lower than this company's loan of $2.72M.

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, and is published unmodified, as provided by the SBA.

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Footnotes & Information

1. 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 www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/supermercados-econo-inc-carolina-pr