PPP Loan Data — ABC Construction Contracting Inc, Astoria, NY
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
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.
Business Information - ABC Construction Contracting Inc in Astoria, NY
3616 19th Ave
Astoria, NY 11105
Remediation Services (NAICS code 562910)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional 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).
Similar Nearby Businesses Who Received PPP Funding:
C Squared Environmental Corp.
KNS Services Corp.
Mark E Accetturi
Atco Contracting Group, Inc.
Long Island City, NY
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.
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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