PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Accutime Watch Corp, New York, NY

ALERT: There are 2 PPP loans for a total of $3.23M in our database for businesses with the name "Accutime Watch Corp" in New York, NY. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Accutime Watch Corp
NY

Accutime Watch Corp

Entity: Corporation

Industry: Jewelry, Watch, Precious Stone, and Precious Metal Merchant Wholesalers

Location: New York, NY

Search All PPP Data

Accutime Watch Corp is a corporation located at 1001 Avenue Of The Americas Fl 6 in New York, New York that received a Coronavirus-related PPP loan from the SBA of $1,559,935.00 in January, 2021.

$ PPP Loan Information
Loan #4991808308

Loan Size:

$1.56M

Jobs Retained:

96

Loan Approved:

2021-01-23

Loan Status:

Ongoing Loan

Lender:

HSBC Bank USA, National Association

Accutime Watch Corp in New York, NY received a Paycheck Protection Loan of $1.56M through HSBC Bank USA, National Association, which was approved in January, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Accutime Watch Corp's 2019 payroll expenses are estimated to be at least $7.49M.

Based on their reported 96 jobs retained, this equals an estimated average yearly compensation of $77,997 per employee1

Reported PPP Proceed Usage:

On the PPP application, Accutime Watch Corp reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,559,931
  • Utilities: $1

Business Information - Accutime Watch Corp in New York, NY

Accutime Watch Corp
1001 Avenue Of The Americas Fl 6
New York, NY 10018

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

New York County, NY — SBA Office 0202 — Congressional District: NY-12

Similar Companies near New York

In the New York area, 226 businesses in the "Jewelry, Watch, Precious Stone, and Precious Metal Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 13 employees (compared to this company's 96) and received an average PPP loan of $185,837 (compared to this company's $1.56M).

Industry PPP Comparison Statistics

Nationwide, 10,528 businesses in the "Jewelry, Watch, Precious Stone, and Precious Metal Merchant Wholesalers" industry received a total of $514.45M 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 5 employees, 95% lower than Accutime Watch Corp's reported 96 employees, and received an average PPP loan of $48,865, 97% lower than this company's loan of $1.56M.

SBA PPP loan data, payroll data, and salaries for Accutime Watch Corp
NY

Accutime Watch Corp

Entity: Corporation

Industry: Other Measuring and Controlling Device Manufacturing

Location: New York, NY

Search All PPP Data

Accutime Watch Corp is a corporation located at 1001 Avenue Of The Americas Fl 6 in New York, New York that received a Coronavirus-related PPP loan from the SBA of $1,671,545.00 in April, 2020.

$ PPP Loan Information
Loan #4609147206

Loan Size:

$1.67M

Jobs Retained:

99

Loan Approved:

2020-04-27

Loan Status:

Ongoing Loan

Lender:

HSBC Bank USA, National Association

Accutime Watch Corp in New York, NY received a Paycheck Protection Loan of $1.67M through HSBC Bank USA, National Association, which was approved in April, 2020.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Accutime Watch Corp's 2019 payroll expenses are estimated to be at least $8.02M.

Based on their reported 99 jobs retained, this equals an estimated average yearly compensation of $81,045 per employee1

Reported PPP Proceed Usage:

On the PPP application, Accutime Watch Corp reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,671,545

Business Information - Accutime Watch Corp in New York, NY

Accutime Watch Corp
1001 Avenue Of The Americas Fl 6
New York, NY 10018

Business Industry:
Other Measuring and Controlling Device Manufacturing
NAICS code 334519

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

New York County, NY — SBA Office 0202 — Congressional District: NY-12

Similar Companies near New York

In the New York area, 2 businesses in the "Other Measuring and Controlling Device Manufacturing" industry received a PPP loan. These local businesses reported an average of 60 employees (compared to this company's 99) and received an average PPP loan of $929,352 (compared to this company's $1.67M).

Similar Nearby Businesses Who Received PPP Funding:

Domani Designs Inc
New York, NY

$187,159 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 1,070 businesses in the "Other Measuring and Controlling Device Manufacturing" industry received a total of $254.04M 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 17 employees, 83% lower than Accutime Watch Corp's reported 99 employees, and received an average PPP loan of $237,417, 86% lower than this company's loan of $1.67M.

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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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.


Have FederalPay.org's open data tools been valuable? Consider donating!

** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/accutime-watch-corp-new-york-ny