PPP Loan Data — David Lerner Associates, Inc., Syosset, NY
David Lerner Associates, Inc. is a subchapter s corporation located at 477 Jericho Turnpike in Syosset, New York that received a Coronavirus-related PPP loan from the SBA of $4,006,870.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 231 people during the applicable loan loan period.
$ PPP Loan Information
Lender:THE HUNTINGTON NATIONAL BANK
David Lerner Associates, Inc. in Syosset, NY received a Paycheck Protection Loan of $4.01M through THE HUNTINGTON NATIONAL BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, David Lerner Associates, Inc.'s total 2019 payroll expenses were approximately $19.23M in order to qualify for the PPP loan amount received.
Based on their reported 231 jobs retained, this equals an estimated average yearly compensation of $83,260 per employee1.
Business Information - David Lerner Associates, Inc. in Syosset, NY
477 Jericho Turnpike
Syosset, NY 11791
Securities Brokerage (NAICS code 523120)
Business Owner Demographics
Race / Ethnicity: WHITE
Gender: MALE OWNED
Veteran Status: NON-VETERANCongressional District: NY-03
Similar Companies near Syosset
In the Syosset area, 4 businesses in the "Securities Brokerage" industry received a PPP loan. These local businesses reported an average of 59 employees (compared to this company's 231) and received an average PPP loan of $1,012,000 (compared to this company's $4.01M).
Similar Nearby Businesses Who Received PPP Funding:
Redi Venture, Inc.
Wading River, NY
Stony Brook, NY
Wading River, NY
Industry PPP Comparison Statistics
Nationwide, 3,089 businesses in the "Securities Brokerage" industry received a total of $262,454,625.00 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 5 employees, 98% lower than David Lerner Associates, Inc.'s reported 231 employees, and received an average PPP loan of $84,964, 98% lower than this company's loan of $4.01M.
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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