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PPP Loan Data — Able Equipment Rental, Inc.,
Deer Park, NY
Able Equipment Rental, Inc.
Entity: Subchapter S Corporation
Industry: Other Commercial and Industrial Machinery and Equipment Rental and Leasing
Location: Deer Park, NY
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Able Equipment Rental, Inc. is a subchapter s corporation located at 1050 Grand Boulevard in Deer Park, New York that received a Coronavirus-related PPP loan from the SBA of $2,468,000.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 224 people during the applicable loan loan period.
$ PPP Loan Information
Loan Size:
Jobs Retained:
224Loan Approved:
2020-04-14Lender:
MANUFACTURERS AND TRADERS TRUST COMPANYAble Equipment Rental, Inc. in Deer Park, NY received a Paycheck Protection Loan of $2.47M through MANUFACTURERS AND TRADERS TRUST COMPANY, which was approved in April, 2020.
Based on standard PPP eligibility rules, Able Equipment Rental, Inc.'s total 2019 payroll expenses were approximately $11.85M in order to qualify for the PPP loan amount received.
Based on their reported 224 jobs retained, this equals an estimated average yearly compensation of $52,886 per employee1.
Business Information - Able Equipment Rental, Inc. in Deer Park, NY
1050 Grand Boulevard
Deer Park, NY 11729
Business Industry
Other Commercial and Industrial Machinery and Equipment Rental and Leasing (NAICS code 532490)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: MALE OWNED
Veteran Status: NON-VETERAN
Congressional District: NY-02Similar Companies near Deer Park
In the Deer Park area, 2 businesses in the "Other Commercial and Industrial Machinery and Equipment Rental and Leasing" industry received a PPP loan. These local businesses reported an average of 181 employees (compared to this company's 224) and received an average PPP loan of $2,457,050 (compared to this company's $2.47M).
Similar Nearby Businesses Who Received PPP Funding:
A & A Associates, LLC
Deer Park, NY
Industry PPP Comparison Statistics
Nationwide, 4,159 businesses in the "Other Commercial and Industrial Machinery and Equipment Rental and Leasing" industry received a total of $707,533,609.00 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 13 employees, 94% lower than Able Equipment Rental, Inc.'s reported 224 employees, and received an average PPP loan of $170,121, 93% lower than this company's loan of $2.47M.
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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