PPP Loan Data — Air General Inc, Portsmouth, NH
Air General Inc is a corporation located at 403 The Hill in Portsmouth, New Hampshire that received a Coronavirus-related PPP loan from the SBA of $6,421,035.00 in May, 2020.
$ PPP Loan Information
Lender:BANK OF AMERICA, NATIONAL ASSOCIATION
Air General Inc received a Paycheck Protection Loan of $6.42M through BANK OF AMERICA, NATIONAL ASSOCIATION, which was approved in May, 2020.
Based on standard PPP eligibility rules, Air General Inc's total 2019 payroll expenses were approximately $30.82M in order to qualify for the PPP loan amount received.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $61,642 per employee1.
Business Information - Air General Inc in Portsmouth, NH
403 The Hill
Portsmouth, NH 3801
Scheduled Freight Air Transportation (NAICS code 481112)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: NH-01
Similar Companies near Portsmouth
In the Portsmouth area, 2 businesses in the "Scheduled Freight Air Transportation" industry received a PPP loan. These local businesses reported an average of 250 employees (compared to this company's 500) and received an average PPP loan of $3,220,918 (compared to this company's $6.42M).
Similar Nearby Businesses Who Received PPP Funding:
NH Atlantic International
Industry PPP Comparison Statistics
Nationwide, 355 businesses in the "Scheduled Freight Air Transportation" industry received a total of $59,165,547.00 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, 97% lower than Air General Inc's reported 500 employees, and received an average PPP loan of $166,664, 97% lower than this company's loan of $6.42M.
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.
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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