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PPP Loan Data — Air General Inc, Portsmouth, NH

SBA PPP loan data, payroll data, and salaries for Air General Inc
NH

Air General Inc

Entity: Corporation

Industry: Scheduled Freight Air Transportation

Location: Portsmouth, NH

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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

Loan Size:

$6.42M

Jobs Retained:

500

Loan Approved:

2020-05-01

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.

Because the loan received by Air General Inc is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Air General Inc in Portsmouth, NH

Air General Inc
403 The Hill
Portsmouth, NH 3801

Business Industry

Scheduled Freight Air Transportation (NAICS code 481112)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional 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
Portsmouth, NH

$20,800 PPP Loan

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.

Search FederalPay's Full PPP Loan Database

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/air-general-inc-portsmouth-nh