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PPP Loan Data — Arista Air Conditioning Corp,
Long Island City, NY
Arista Air Conditioning Corp
Entity: Subchapter S Corporation
Industry: Plumbing, Heating, and Air-Conditioning Contractors
Location: Long Island City, NY
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Arista Air Conditioning Corp is a subchapter s corporation located at 3826 10th St in Long Island City, New York that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in January, 2021.
The company has reported itself as a male owned business, and employed at least 167 people during the applicable loan loan period.
$
PPP Loan Information
Loan #9194488308
Loan Size:
Jobs Retained:
167Loan Approved:
2021-01-30Loan Status:
Ongoing LoanLender:
Emigrant BankArista Air Conditioning Corp in Long Island City, NY received a Paycheck Protection Loan of $2M through Emigrant Bank, 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 MoreUnderstanding 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 MoreBased 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, Arista Air Conditioning Corp's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 167 jobs retained, this equals an estimated average yearly compensation of $57,485 per employee1
Reported PPP Proceed Usage:
On the PPP application, Arista Air Conditioning Corp reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,995
- Utilities: $1
Business Information - Arista Air Conditioning Corp in Long Island City, NY
3826 10th St
Long Island City, NY 11101
Business Industry:
Plumbing, Heating, and Air-Conditioning Contractors
NAICS code 238220
Business Owner Demographics
Race: Unreported
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: N
Rural / Urban: Urban
Similar Companies near Long Island City
In the Long Island City area, 110 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a PPP loan. These local businesses reported an average of 35 employees (compared to this company's 167) and received an average PPP loan of $492,426 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Myrto Plumbing & HVAC Corporation
Astoria, NY
JCC Construction Corp
Long Island City, NY
Copper Services LLC
Long Island City, NY
UAC Service Corp
Long Island City, NY
S&J Industrial Corp
Long Island City, NY
JCA Mechanical Corp
Astoria, NY
S&S HVAC Corp
Long Island City, NY
Metro Duct Systems Inc
Long Island City, NY
Industry PPP Comparison Statistics
Nationwide, 101,561 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a total of $12.95B 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 11 employees, 93% lower than Arista Air Conditioning Corp's reported 167 employees, and received an average PPP loan of $127,477, 94% lower than this company's loan of $2M.
Arista Air Conditioning Corp
Entity: Subchapter S Corporation
Industry: Plumbing, Heating, and Air-Conditioning Contractors
Location: Long Island City, NY
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Arista Air Conditioning Corp is a subchapter s corporation located at 38-26 10th St in Long Island City, New York that received a Coronavirus-related PPP loan from the SBA of $3,066,653.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 174 people during the applicable loan loan period.
$
PPP Loan Information
Loan #8625067106
Loan Size:
Jobs Retained:
174Loan Approved:
2020-04-15Loan Status:
Ongoing LoanLender:
Emigrant BankArista Air Conditioning Corp in Long Island City, NY received a Paycheck Protection Loan of $3.07M through Emigrant Bank, 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 MoreUnderstanding 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 MoreBased 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, Arista Air Conditioning Corp's 2019 payroll expenses are estimated to be at least $14.72M.
Based on their reported 174 jobs retained, this equals an estimated average yearly compensation of $84,597 per employee1
Reported PPP Proceed Usage:
On the PPP application, Arista Air Conditioning Corp reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $3,066,653
Business Information - Arista Air Conditioning Corp in Long Island City, NY
38-26 10th St
Long Island City, NY 11101
Business Industry:
Plumbing, Heating, and Air-Conditioning Contractors
NAICS code 238220
Business Owner Demographics
Race: Unreported
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: Y
Rural / Urban: Urban
Similar Companies near Long Island City
In the Long Island City area, 110 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a PPP loan. These local businesses reported an average of 35 employees (compared to this company's 174) and received an average PPP loan of $492,426 (compared to this company's $3.07M).
Similar Nearby Businesses Who Received PPP Funding:
Myrto Plumbing & HVAC Corporation
Astoria, NY
JCC Construction Corp
Long Island City, NY
Copper Services LLC
Long Island City, NY
UAC Service Corp
Long Island City, NY
S&J Industrial Corp
Long Island City, NY
JCA Mechanical Corp
Astoria, NY
S&S HVAC Corp
Long Island City, NY
Metro Duct Systems Inc
Long Island City, NY
Industry PPP Comparison Statistics
Nationwide, 101,561 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a total of $12.95B 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 11 employees, 94% lower than Arista Air Conditioning Corp's reported 174 employees, and received an average PPP loan of $127,477, 96% lower than this company's loan of $3.07M.
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.
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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