PPP Loan Data — Chestnut Petroleum Dist., Inc., New Paltz, NY
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
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.
Business Information - Chestnut Petroleum Dist., Inc. in New Paltz, NY
536 Main Street
New Paltz, NY 12561
Gasoline Stations with Convenience Stores (NAICS code 447110)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional 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).
Similar Nearby Businesses Who Received PPP Funding:
Gas Land Petroleum, Inc.
New Paltz, NY
J&P Petroleum, Inc.
New Paltz, NY
New Paltz Snack Shop Inc.
New Paltz, NY
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.
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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