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

PPP Loan Data — Allstar Security & Consulting Inc, New York, NY

ALERT: There are 2 PPP loans for a total of $4.06M in our database for businesses with the name "Allstar Security & Consulting Inc" 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 Allstar Security & Consulting Inc
NY

Allstar Security & Consulting Inc

Entity: Subchapter S Corporation

Industry: Security Guards and Patrol Services

Location: New York, NY

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Allstar Security & Consulting Inc is a subchapter s corporation located at 1441 Broadway Fl 17 in New York, New York that received a Coronavirus-related PPP loan from the SBA of $1,314,706.00 in January, 2021.

$ PPP Loan Information
Loan #3388818301

Loan Size:

$1.31M

Jobs Retained:

120

Loan Approved:

2021-01-22

Loan Status:

Ongoing Loan

Lender:

Modern Bank, National Association

Allstar Security & Consulting Inc in New York, NY received a Paycheck Protection Loan of $1.31M through Modern Bank, 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, Allstar Security & Consulting Inc's 2019 payroll expenses are estimated to be at least $6.31M.

Based on their reported 120 jobs retained, this equals an estimated average yearly compensation of $52,588 per employee1

Reported PPP Proceed Usage:

On the PPP application, Allstar Security & Consulting Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,314,703
  • Utilities: $1

Business Information - Allstar Security & Consulting Inc in New York, NY

Allstar Security & Consulting Inc
1441 Broadway Fl 17
New York, NY 10018

Business Industry:
Security Guards and Patrol Services
NAICS code 561612

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, 24 businesses in the "Security Guards and Patrol Services" industry received a PPP loan. These local businesses reported an average of 128 employees (compared to this company's 120) and received an average PPP loan of $855,873 (compared to this company's $1.31M).

Industry PPP Comparison Statistics

Nationwide, 7,857 businesses in the "Security Guards and Patrol Services" industry received a total of $1.32B 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 32 employees, 73% lower than Allstar Security & Consulting Inc's reported 120 employees, and received an average PPP loan of $168,335, 87% lower than this company's loan of $1.31M.

SBA PPP loan data, payroll data, and salaries for Allstar Security & Consulting, Inc
NY

Allstar Security & Consulting, Inc

Entity: Subchapter S Corporation

Industry: Security Guards and Patrol Services

Location: New York, NY

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Allstar Security & Consulting, Inc is a subchapter s corporation located at 1441 Broadway Fl 17 in New York, New York that received a Coronavirus-related PPP loan from the SBA of $2,741,400.00 in April, 2020.

$ PPP Loan Information
Loan #4347657205

Loan Size:

$2.74M

Jobs Retained:

350

Loan Approved:

2020-04-27

Loan Status:

Ongoing Loan

Lender:

Capital One, National Association

Allstar Security & Consulting, Inc in New York, NY received a Paycheck Protection Loan of $2.74M through Capital One, 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, Allstar Security & Consulting, Inc's 2019 payroll expenses are estimated to be at least $13.16M.

Based on their reported 350 jobs retained, this equals an estimated average yearly compensation of $37,596 per employee1

Reported PPP Proceed Usage:

On the PPP application, Allstar Security & Consulting, Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $2,741,400
Because the loan received by Allstar Security & Consulting, 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 - Allstar Security & Consulting, Inc in New York, NY

Allstar Security & Consulting, Inc
1441 Broadway Fl 17
New York, NY 10018

Business Industry:
Security Guards and Patrol Services
NAICS code 561612

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age:

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, 24 businesses in the "Security Guards and Patrol Services" industry received a PPP loan. These local businesses reported an average of 128 employees (compared to this company's 350) and received an average PPP loan of $855,873 (compared to this company's $2.74M).

Industry PPP Comparison Statistics

Nationwide, 7,857 businesses in the "Security Guards and Patrol Services" industry received a total of $1.32B 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 32 employees, 91% lower than Allstar Security & Consulting, Inc's reported 350 employees, and received an average PPP loan of $168,335, 94% lower than this company's loan of $2.74M.

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/allstar-security-consulting-inc-new-york-ny