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

PPP Loan Data — Air-Sea Packing Group Inc, Long Island City, NY

ALERT: There are 2 PPP loans for a total of $4.54M in our database for businesses with the name "Air-Sea Packing Group Inc" in Long Island City, 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 Air-Sea Packing Group Inc
NY

Air-Sea Packing Group Inc

Entity: Corporation

Industry: Specialized Freight (except Used Goods) Trucking, Local

Location: Long Island City, NY

Search All PPP Data

Air-Sea Packing Group Inc is a corporation located at 4035 22nd St in Long Island City, New York that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in March, 2021.

$ PPP Loan Information
Loan #1326248607

Loan Size:

$2M
PPP Funds Undisbursed

Jobs Retained:

257

Loan Approved:

2021-03-13

Loan Status:

Active Un-Disbursed

Lender:

Grow America Fund, Incorporated

Air-Sea Packing Group Inc in Long Island City, NY received a Paycheck Protection Loan of $2M through Grow America Fund, Incorporated, which was approved in March, 2021.

While this loan has been approved by the Small Business Administration, the lender has not reported to the SBA that the loan funds were disbursed to the borrower. According to SBA records, a total of $2M in approved PPP funding has not been disbursed. The loan's status was last updated by the SBA in March, 2021.

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, Air-Sea Packing Group Inc's 2019 payroll expenses are estimated to be at least $9.6M.

Based on their reported 257 jobs retained, this equals an estimated average yearly compensation of $37,354 per employee1

Reported PPP Proceed Usage:

On the PPP application, Air-Sea Packing Group Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,999,994
  • Utilities: $1
Because the loan received by Air-Sea Packing Group 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-Sea Packing Group Inc in Long Island City, NY

Air-Sea Packing Group Inc
4035 22nd St
Long Island City, NY 11101

Business Industry:
Specialized Freight (except Used Goods) Trucking, Local
NAICS code 484220

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

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

Similar Companies near Long Island City

In the Long Island City area, 16 businesses in the "Specialized Freight (except Used Goods) Trucking, Local" industry received a PPP loan. These local businesses reported an average of 38 employees (compared to this company's 257) and received an average PPP loan of $361,684 (compared to this company's $2M).

Industry PPP Comparison Statistics

Nationwide, 25,630 businesses in the "Specialized Freight (except Used Goods) Trucking, Local" industry received a total of $1.9B 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 7 employees, 97% lower than Air-Sea Packing Group Inc's reported 257 employees, and received an average PPP loan of $74,289, 96% lower than this company's loan of $2M.

SBA PPP loan data, payroll data, and salaries for Air-Sea Packing Group Inc
NY

Air-Sea Packing Group Inc

Entity: Corporation

Industry: Specialized Freight (except Used Goods) Trucking, Local

Location: Long Island City, NY

Search All PPP Data

Air-Sea Packing Group Inc is a corporation located at 40-35 22nd St 0.0 in Long Island City, New York that received a Coronavirus-related PPP loan from the SBA of $2,540,384.00 in April, 2020.

$ PPP Loan Information
Loan #3173627103

Loan Size:

$2.54M

Jobs Retained:

222

Loan Approved:

2020-04-11

Loan Status:

Ongoing Loan

Lender:

JPMorgan Chase Bank, National Association

Air-Sea Packing Group Inc in Long Island City, NY received a Paycheck Protection Loan of $2.54M through JPMorgan Chase Bank, 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, Air-Sea Packing Group Inc's 2019 payroll expenses are estimated to be at least $12.19M.

Based on their reported 222 jobs retained, this equals an estimated average yearly compensation of $54,927 per employee1

Reported PPP Proceed Usage:

On the PPP application, Air-Sea Packing Group Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $2,032,307
  • Rent: $508,077
Because the loan received by Air-Sea Packing Group 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-Sea Packing Group Inc in Long Island City, NY

Air-Sea Packing Group Inc
40-35 22nd St 0.0
Long Island City, NY 11101

Business Industry:
Specialized Freight (except Used Goods) Trucking, Local
NAICS code 484220

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: Y

HUBZone: Y

Rural / Urban: Urban

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

Similar Companies near Long Island City

In the Long Island City area, 16 businesses in the "Specialized Freight (except Used Goods) Trucking, Local" industry received a PPP loan. These local businesses reported an average of 38 employees (compared to this company's 222) and received an average PPP loan of $361,684 (compared to this company's $2.54M).

Industry PPP Comparison Statistics

Nationwide, 25,630 businesses in the "Specialized Freight (except Used Goods) Trucking, Local" industry received a total of $1.9B 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 7 employees, 97% lower than Air-Sea Packing Group Inc's reported 222 employees, and received an average PPP loan of $74,289, 97% lower than this company's loan of $2.54M.

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.


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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/air-sea-packing-group-inc-long-island-city-ny