PPP Loan Data — United Safety And Alarm, Inc, Sunrise, FL
United Safety And Alarm, Inc is a corporation located at 10318 Nw 55th Street in Sunrise, Florida that received a Coronavirus-related PPP loan from the SBA of $1,511,925.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least fifteen people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Harvest Small Business Finance, LLC
United Safety And Alarm, Inc in Sunrise, FL received a Paycheck Protection Loan of $1.51M through Harvest Small Business Finance, LLC, which was approved in April, 2020.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 73. 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, United Safety And Alarm, Inc's 2019 payroll expenses are estimated to be at least $7.26M (not accounting for salary amounts > $100k).
Because the 15 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, United Safety And Alarm, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,511,925
Business Information - United Safety And Alarm, Inc in Sunrise, FL
10318 Nw 55th Street
Sunrise, FL 33351
Security Systems Services (except Locksmiths)
NAICS code 561621
Business Owner Demographics
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Sunrise
In the Sunrise area, 6 businesses in the "Security Systems Services (except Locksmiths)" industry received a PPP loan. These local businesses reported an average of 7 employees (compared to this company's 15) and received an average PPP loan of $291,427 (compared to this company's $1.51M).
Similar Nearby Businesses Who Received PPP Funding:
Securecomm Systems Integrators Inc
Optical Crime Prevention, Inc. DBA Eyecast
Core Security Systems LLC
Industry PPP Comparison Statistics
Nationwide, 9,089 businesses in the "Security Systems Services (except Locksmiths)" industry received a total of $1.11B 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 12 employees, 20% lower than United Safety And Alarm, Inc's reported 15 employees, and received an average PPP loan of $122,118, 92% lower than this company's loan of $1.51M.
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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