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PPP Loan Data — Tax Defense Network LLC,
Jacksonville, FL
Tax Defense Network LLC
Entity: Limited Liability Company (LLC)
Industry: Tax Preparation Services
Location: Jacksonville, FL
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Tax Defense Network LLC is a limited liability company (LLC) located at 9000 Southside Blvd in Jacksonville, Florida that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in March, 2021.
The company has reported itself as an Asian female owned business, and employed at least 229 people during the applicable loan loan period.
$
PPP Loan Information
Loan #5633488509
Loan Size:
Jobs Retained:
229Loan Approved:
2021-03-01Loan Status:
Ongoing LoanLender:
Newtek Small Business Finance, Inc.Tax Defense Network LLC in Jacksonville, FL received a Paycheck Protection Loan of $2M through Newtek Small Business Finance, Inc., which was approved in March, 2021.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
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 MoreUnderstanding 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 MoreBased 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, Tax Defense Network LLC's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 229 jobs retained, this equals an estimated average yearly compensation of $41,921 per employee1
Reported PPP Proceed Usage:
On the PPP application, Tax Defense Network LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,997
- Utilities: $1
Business Information - Tax Defense Network LLC in Jacksonville, FL
9000 Southside Blvd
Jacksonville, FL 32256
Business Industry:
Tax Preparation Services
NAICS code 541213
Business Owner Demographics
Race: Asian
Ethnicity: Hispanic or Latino
Gender: Female Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: N
Rural / Urban: Urban
Similar Companies near Jacksonville
In the Jacksonville area, 19 businesses in the "Tax Preparation Services" industry received a PPP loan. These local businesses reported an average of 15 employees (compared to this company's 229) and received an average PPP loan of $135,411 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Accelerated Tax Solutions, Inc
Jacksonville, FL
Lucinda Souffrant
Jacksonville, FL
Eric Kavallaris
Jacksonville, FL
Tiffany Davis
Jacksonville, FL
Allen Accounting & Tax Service Inc
Jacksonville, FL
D & B Tax Group LLC
Jacksonville, FL
Graci Tax & Accounting PA
Jacksonville, FL
JAX Financial And Accounting Services LLC
Jacksonville, FL
Professional Tax Software Solutions Inc
Jacksonville, FL
Industry PPP Comparison Statistics
Nationwide, 49,801 businesses in the "Tax Preparation Services" industry received a total of $1.08B 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 3 employees, 99% lower than Tax Defense Network LLC's reported 229 employees, and received an average PPP loan of $21,741, 99% lower than this company's loan of $2M.
Tax Defense Network, LLC
Entity: Limited Liability Company (LLC)
Industry: Offices of Other Holding Companies
Location: Jacksonville, FL
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Tax Defense Network, LLC is a limited liability company (LLC) located at 9000 Southside Blvd in Jacksonville, Florida that received a Coronavirus-related PPP loan from the SBA of $3,875,600.00 in June, 2020.
The company has reported itself as an Asian female owned business, and employed at least 219 people during the applicable loan loan period.
$
PPP Loan Information
Loan #8688197902
Loan Size:
Jobs Retained:
219Loan Approved:
2020-06-18Loan Status:
Paid in Full or ForgivenLender:
Newtek Small Business Finance, Inc.Tax Defense Network, LLC in Jacksonville, FL received a Paycheck Protection Loan of $3.88M through Newtek Small Business Finance, Inc., which was approved in June, 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 August, 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 MoreUnderstanding 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 MoreBased 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, Tax Defense Network, LLC's 2019 payroll expenses are estimated to be at least $18.6M.
Based on their reported 219 jobs retained, this equals an estimated average yearly compensation of $84,945 per employee1
Reported PPP Proceed Usage:
On the PPP application, Tax Defense Network, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $3,875,600
Business Information - Tax Defense Network, LLC in Jacksonville, FL
9000 Southside Blvd
Jacksonville, FL 32256
Business Industry:
Offices of Other Holding Companies
NAICS code 551112
Business Owner Demographics
Race: Asian
Ethnicity: Hispanic or Latino
Gender: Female Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: N
Rural / Urban: Urban
Similar Companies near Jacksonville
In the Jacksonville area, 5 businesses in the "Offices of Other Holding Companies" industry received a PPP loan. These local businesses reported an average of 46 employees (compared to this company's 219) and received an average PPP loan of $788,726 (compared to this company's $3.88M).
Similar Nearby Businesses Who Received PPP Funding:
Jeffrey Salazar
Jacksonville, FL
C & T Synergy Inc
Jacksonville, FL
Shaya Medical PC
Jacksonville, FL
Industry PPP Comparison Statistics
Nationwide, 12,406 businesses in the "Offices of Other Holding Companies" industry received a total of $1.56B 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 13 employees, 94% lower than Tax Defense Network, LLC's reported 219 employees, and received an average PPP loan of $125,465, 97% lower than this company's loan of $3.88M.
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.
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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