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PPP Loan Data — Chestnut Petroleum Dist., Inc., New Paltz, NY

SBA PPP loan data, payroll data, and salaries for Chestnut Petroleum Dist., Inc.
NY

Chestnut Petroleum Dist., Inc.

Entity: Subchapter S Corporation

Industry: Gasoline Stations with Convenience Stores

Location: New Paltz, NY

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Chestnut Petroleum Dist., Inc. is a subchapter s corporation located at 536 Main Street in New Paltz, New York that received a Coronavirus-related PPP loan from the SBA of $3,433,200.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.43M

Jobs Retained:

442

Loan Approved:

2020-04-15

Lender:

MANUFACTURERS AND TRADERS TRUST COMPANY

Chestnut Petroleum Dist., Inc. in New Paltz, NY received a Paycheck Protection Loan of $3.43M through MANUFACTURERS AND TRADERS TRUST COMPANY, which was approved in April, 2020.

Based on standard PPP eligibility rules, Chestnut Petroleum Dist., Inc.'s total 2019 payroll expenses were approximately $16.48M in order to qualify for the PPP loan amount received.

Based on their reported 442 jobs retained, this equals an estimated average yearly compensation of $37,284 per employee1.

Because the loan received by Chestnut Petroleum Dist., 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 - Chestnut Petroleum Dist., Inc. in New Paltz, NY

Chestnut Petroleum Dist., Inc.
536 Main Street
New Paltz, NY 12561

Business Industry

Gasoline Stations with Convenience Stores (NAICS code 447110)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: NY-19

Similar Companies near New Paltz

In the New Paltz area, 4 businesses in the "Gasoline Stations with Convenience Stores" industry received a PPP loan. These local businesses reported an average of 115 employees (compared to this company's 442) and received an average PPP loan of $901,184 (compared to this company's $3.43M).

Industry PPP Comparison Statistics

Nationwide, 29,511 businesses in the "Gasoline Stations with Convenience Stores" industry received a total of $1,334,454,507.00 in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 8 employees, 98% lower than Chestnut Petroleum Dist., Inc.'s reported 442 employees, and received an average PPP loan of $45,219, 99% lower than this company's loan of $3.43M.

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, and is published unmodified, as provided by the SBA.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. 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/chestnut-petroleum-dist-inc-new-paltz-ny