PPP Loan Data — Valmar Construction Corp, Pompano Beach, FL
Valmar Construction Corp is a corporation located at 1303 North State Road 7 Suite B5 in Pompano Beach, Florida that received a Coronavirus-related PPP loan from the SBA of $46,900.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Valmar Construction Corp in Pompano Beach, FL received a Paycheck Protection Loan of $46,900 through FinWise 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 January, 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, Valmar Construction Corp's 2019 payroll expenses are estimated to be at least $225,120.
Based on their reported 10 jobs retained, this equals an estimated average yearly compensation of $22,512 per employee1
Reported PPP Proceed Usage:
On the PPP application, Valmar Construction Corp reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $40,000
- Utilities: $5,050
- Rent: $1,850
Business Information - Valmar Construction Corp in Pompano Beach, FL
1303 North State Road 7 Suite B5
Pompano Beach, FL 33063
Office Administrative Services
NAICS code 561110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Pompano Beach
In the Pompano Beach area, 60 businesses in the "Office Administrative Services" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 10) and received an average PPP loan of $19,646 (compared to this company's $46,900).
Similar Nearby Businesses Who Received PPP Funding:
BFL Franchising LLC
Lighthouse Point, FL
R & C Management Inc
Pompano Beach, FL
Pompano Beach, FL
Pablo Juan Alvarez Lener
Deerfield Beach, FL
Kunti Ramoutar Wiser
Pablo Alvarez Lener
Industry PPP Comparison Statistics
Nationwide, 44,947 businesses in the "Office Administrative Services" industry received a total of $2.36B 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 6 employees, 40% lower than Valmar Construction Corp's reported 10 employees, and received an average PPP loan of $52,468, 12% higher than this company's loan of $46,900.
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Footnotes & Information
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