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PPP Loan Data — CDS Mestel Construction Corporation,
Garden City Park, NY
CDS Mestel Construction Corporation
Entity: Corporation
Industry: Commercial and Institutional Building Construction
Location: Garden City Park, NY
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CDS Mestel Construction Corporation is a corporation located at 2120 Jericho Tpke in Garden City Park, New York that received a Coronavirus-related PPP loan from the SBA of $759,530.00 in April, 2020.
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PPP Loan Information
Loan #7668437105
Loan Size:
Jobs Retained:
53Loan Approved:
2020-04-14Loan Status:
Paid in Full or ForgivenLender:
The First National Bank of Long IslandCDS Mestel Construction Corporation in Garden City Park, NY received a Paycheck Protection Loan of $759,530 through The First National Bank of Long Island, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in September, 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 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, CDS Mestel Construction Corporation's 2019 payroll expenses are estimated to be at least $3.65M.
Based on their reported 53 jobs retained, this equals an estimated average yearly compensation of $68,788 per employee1
Reported PPP Proceed Usage:
On the PPP application, CDS Mestel Construction Corporation reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $759,530
Business Information - CDS Mestel Construction Corporation in Garden City Park, NY
2120 Jericho Tpke
Garden City Park, NY 11040
Business Industry:
Commercial and Institutional Building Construction
NAICS code 236220
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
Businesses Using Same Address:
There is one other business that received a PPP loan registered to the same address as CDS Mestel Construction Corporation.
Cds-Mestel Construction Corp
Commercial and Institutional Building Construction
Similar Companies near Garden City Park
In the Garden City Park area, 37 businesses in the "Commercial and Institutional Building Construction" industry received a PPP loan. These local businesses reported an average of 21 employees (compared to this company's 53) and received an average PPP loan of $368,075 (compared to this company's $759,530).
Similar Nearby Businesses Who Received PPP Funding:
Viking Management LTD
New Hyde Park, NY
AVF Development Corp
Garden City Park, NY
Traditional Waterproofing & Restoration, Inc
Garden City Park, NY
Safe Way Construction Corp
New Hyde Park, NY
Micheal Anthony Contracting Corp
New Hyde Park, NY
MRC Restoration Corp
New Hyde Park, NY
AKM Construction Services Corp
New Hyde Park, NY
LEO Villanueva
New Hyde Park, NY
Tong Zhao
New Hyde Park, NY
Industry PPP Comparison Statistics
Nationwide, 77,367 businesses in the "Commercial and Institutional Building Construction" industry received a total of $12.37B 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 12 employees, 77% lower than CDS Mestel Construction Corporation's reported 53 employees, and received an average PPP loan of $159,913, 79% lower than this company's loan of $759,530.
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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