CARIBBEAN TEMPORARY SERVICES LLC
PPP Loan approved Apr 28, 2020 through Oriental Bank
Borrower Information
Business Details
Lender Information
Self-Reported Demographics
How Proceeds Were Used
| Category | Amount | % of Total Proceeds |
|---|---|---|
| Payroll | $10,000,000.00 | 100.0% |
About This Loan
CARIBBEAN TEMPORARY SERVICES LLC received a PPP loan of $10,000,000 approved on Apr 28, 2020. The loan was originated by Oriental Bank.
CARIBBEAN TEMPORARY SERVICES LLC is a corporation located in SANTURCE, Puerto Rico. At the time of the application, the business was described as "existing or more than 2 years old".
The business operates in the Employment Services industry (NAICS 561320), part of the Administrative and Support and Waste Management sector of the economy. The applicant reported 500 jobs as retained through this loan.
The SBA forgave $10,225,833.33 of this loan — 102.3% of the total approved amount, with forgiveness recorded on Jul 29, 2022. This means the borrower was not required to repay this portion, having satisfied the PPP's eligibility criteria for forgiveness, including maintaining payroll levels and using the funds for qualified expenses.
According to the SBA's records, the proceeds of this loan were allocated as follows: $10,000,000 to payroll. The payroll component represents 100.0% of disclosed proceeds, consistent with the program's requirement that at least 60% of loan funds be used for payroll costs to qualify for full forgiveness.
This loan is one of millions approved nationwide during the COVID-19 pandemic. To explore other recipients in Puerto Rico, visit the Puerto Rico page. To compare this loan with others in the same industry, see the Employment Services industry page.