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PPP Loan Data — Eastman Footwear Group Inc., New York, NY

SBA PPP loan data, payroll data, and salaries for Eastman Footwear Group Inc.
NY

Eastman Footwear Group Inc.

Entity: Subchapter S Corporation

Industry: Footwear Merchant Wholesalers

Location: New York, NY

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Eastman Footwear Group Inc. is a subchapter s corporation located at 34 West 33rd Street in New York, New York that received a Coronavirus-related PPP loan from the SBA of $2,567,215.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.57M

Jobs Retained:

124

Loan Approved:

2020-04-11

Lender:

JPMORGAN CHASE BANK, NATIONAL ASSOCIATION

Eastman Footwear Group Inc. in New York, NY received a Paycheck Protection Loan of $2.57M through JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Eastman Footwear Group Inc.'s total 2019 payroll expenses were approximately $12.32M in order to qualify for the PPP loan amount received.

Based on their reported 124 jobs retained, this equals an estimated average yearly compensation of $99,376 per employee1.

Because the loan received by Eastman Footwear Group 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 - Eastman Footwear Group Inc. in New York, NY

Eastman Footwear Group Inc.
34 West 33rd Street
New York, NY 10001

Business Industry

Footwear Merchant Wholesalers (NAICS code 424340)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: NY-12

Similar Companies near New York

In the New York area, 10 businesses in the "Footwear Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 22 employees (compared to this company's 124) and received an average PPP loan of $435,186 (compared to this company's $2.57M).

Industry PPP Comparison Statistics

Nationwide, 889 businesses in the "Footwear Merchant Wholesalers" industry received a total of $106,634,026.00 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 9 employees, 93% lower than Eastman Footwear Group Inc.'s reported 124 employees, and received an average PPP loan of $119,948, 95% lower than this company's loan of $2.57M.

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/eastman-footwear-group-inc-new-york-ny