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PPP Loan Data — Cassone Leasing, Inc, Ronkonkoma, NY

SBA PPP loan data, payroll data, and salaries for Cassone Leasing, Inc
NY

Cassone Leasing, Inc

Entity: Corporation

Industry: Truck, Utility Trailer, and RV (Recreational Vehicle) Rental and Leasing

Location: Ronkonkoma, NY

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Cassone Leasing, Inc is a corporation located at 1950 Lakeland Ave in Ronkonkoma, New York that received a Coronavirus-related PPP loan from the SBA of $1,092,287.00 in April, 2020.

$ PPP Loan Information Loan #3707517209

Loan Size:

$1.09M

Jobs Retained:

65

Loan Approved:

2020-04-27

Loan Status:

Ongoing Loan

Lender:

Dime Community Bank

Cassone Leasing, Inc in Ronkonkoma, NY received a Paycheck Protection Loan of $1.09M through Dime Community 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 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, Cassone Leasing, Inc's 2019 payroll expenses are estimated to be at least $5.24M.

Based on their reported 65 jobs retained, this equals an estimated average yearly compensation of $80,661 per employee1

Reported PPP Proceed Usage:

On the PPP application, Cassone Leasing, Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,092,287

Business Information - Cassone Leasing, Inc in Ronkonkoma, NY

Cassone Leasing, Inc
1950 Lakeland Ave
Ronkonkoma, NY 11779

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: New Business or 2 years or less

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Suffolk County, NY — SBA Office 0235 — Congressional District: NY-01

Similar Companies near Ronkonkoma

In the Ronkonkoma area, 2 businesses in the "Truck, Utility Trailer, and RV (Recreational Vehicle) Rental and Leasing" industry received a PPP loan. These local businesses reported an average of 34 employees (compared to this company's 65) and received an average PPP loan of $668,362 (compared to this company's $1.09M).

Similar Nearby Businesses Who Received PPP Funding:

Cassone Truck & Equipment Sales Inc
Ronkonkoma, NY

$244,437 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 2,552 businesses in the "Truck, Utility Trailer, and RV (Recreational Vehicle) Rental and Leasing" industry received a total of $281,916,282.00 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 10 employees, 85% lower than Cassone Leasing, Inc's reported 65 employees, and received an average PPP loan of $110,469, 90% lower than this company's loan of $1.09M.

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.

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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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Source: www.federalpay.org/paycheck-protection-program/cassone-leasing-inc-ronkonkoma-ny