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PPP Loan Data — ABC Construction Contracting Inc, Astoria, NY

SBA PPP loan data, payroll data, and salaries for ABC Construction Contracting Inc
NY

ABC Construction Contracting Inc

Entity: Corporation

Industry: Remediation Services

Location: Astoria, NY

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ABC Construction Contracting Inc is a corporation located at 3616 19th Ave in Astoria, New York that received a Coronavirus-related PPP loan from the SBA of $2,525,691.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.53M

Jobs Retained:

124

Loan Approved:

2020-04-16

Lender:

BANK OF AMERICA, NATIONAL ASSOCIATION

ABC Construction Contracting Inc in Astoria, NY received a Paycheck Protection Loan of $2.53M through BANK OF AMERICA, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, ABC Construction Contracting Inc's total 2019 payroll expenses were approximately $12.12M in order to qualify for the PPP loan amount received.

Based on their reported 124 jobs retained, this equals an estimated average yearly compensation of $97,769 per employee1.

Because the loan received by ABC Construction Contracting 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 - ABC Construction Contracting Inc in Astoria, NY

ABC Construction Contracting Inc
3616 19th Ave
Astoria, NY 11105

Business Industry

Remediation Services (NAICS code 562910)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: NY-14

Similar Companies near Astoria

In the Astoria area, 5 businesses in the "Remediation Services" industry received a PPP loan. These local businesses reported an average of 34 employees (compared to this company's 124) and received an average PPP loan of $600,575 (compared to this company's $2.53M).

Industry PPP Comparison Statistics

Nationwide, 2,317 businesses in the "Remediation Services" industry received a total of $566,106,367.00 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 17 employees, 86% lower than ABC Construction Contracting Inc's reported 124 employees, and received an average PPP loan of $244,327, 90% lower than this company's loan of $2.53M.

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.

Search FederalPay's Full PPP Loan Database

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/abc-construction-contracting-inc-astoria-ny