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PPP Loan Data — Adafruit Industries LLC, New York, NY

SBA PPP loan data, payroll data, and salaries for Adafruit Industries LLC
NY

Adafruit Industries LLC

Entity: Limited Liability Company (LLC)

Industry: Electronic Shopping and Mail-Order Houses

Location: New York, NY

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Adafruit Industries LLC is a limited liability company (LLC) located at 150 Varick St 3 in New York, New York that received a Coronavirus-related PPP loan from the SBA of $1,157,500.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$1.16M

Jobs Retained:

96

Loan Approved:

2020-04-16

Lender:

JPMORGAN CHASE BANK, NATIONAL ASSOCIATION

Adafruit Industries LLC received a Paycheck Protection Loan of $1.16M through JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

2019 Payroll Estimations based On PPP Amount:

Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 0.

Based on standard PPP eligibility rules, Adafruit Industries LLC's total 2019 payroll expenses were approximately $5.56M in order to qualify for the PPP loan amount received.

Based on their reported 96 jobs retained, this equals an estimated average yearly compensation of $57,875 per employee1.

Business Information - Adafruit Industries LLC in New York, NY

Adafruit Industries LLC
150 Varick St 3
New York, NY 10013

Business Industry

Electronic Shopping and Mail-Order Houses (NAICS code 454110)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: NY-10

Similar Companies near New York

In the New York area, 22 businesses in the "Electronic Shopping and Mail-Order Houses" industry received a PPP loan. These local businesses reported an average of 47 employees (compared to this company's 96) and received an average PPP loan of $711,494 (compared to this company's $1.16M).

Industry PPP Comparison Statistics

Nationwide, 7,082 businesses in the "Electronic Shopping and Mail-Order Houses" industry received a total of $544,486,530.00 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 7 employees, 93% lower than Adafruit Industries LLC's reported 96 employees, and received an average PPP loan of $76,883, 93% lower than this company's loan of $1.16M.

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.

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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/adafruit-industries-llc-new-york-ny