PPP Loan Data — Commodore Construction Corp, Mount Vernon, NY

Commodore Construction Corp is a subchapter s corporation located at 602 South 3rd Avenue in Mount Vernon, New York that received a Coronavirus-related PPP loan from the SBA of $10,000,000.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least 420 people during the applicable loan loan period.

$ PPP Loan Information

Loan #7998047109

Commodore Construction Corp in Mount Vernon, NY received a Paycheck Protection Loan of $10M through Manufacturers and Traders Trust Company, 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 October, 2021.

The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 420 jobs reported as retained on the PPP application³. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.

The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 480. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

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, Commodore Construction Corp's 2019 payroll expenses are estimated to be at least $48M (not accounting for salary amounts > $100k).

Because the 420 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.

Reported PPP Proceed Usage:

On the PPP application, Commodore Construction Corp reported intending to use the proceeds of their PPP loan for the following expenses:

• Payroll: $7,500,000
• Utilities: $50,000
• Rent: $200,000
• Health Care: $2,250,000

Business Information - Commodore Construction Corp in Mount Vernon, NY

Similar Companies near Mount Vernon

In the Mount Vernon area, 27 businesses in the "All Other Specialty Trade Contractors" industry received a PPP loan. These local businesses reported an average of 45 employees (compared to this company's 420) and received an average PPP loan of $564,843 (compared to this company's $10M).

Industry PPP Comparison Statistics

Nationwide, 92,267 businesses in the "All Other Specialty Trade Contractors" industry received a total of $8.02B 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 8 employees, 98% lower than Commodore Construction Corp's reported 420 employees, and received an average PPP loan of $86,936, 99% lower than this company's loan of $10M.