PPP Loan Data — Electronic Payments, Inc, Calverton, NY
Electronic Payments, Inc
Location: Calverton, NYTweet This • Search All PPP Data
Electronic Payments, Inc is a corporation located at 1161 Scott Avenue in Calverton, New York that received a Coronavirus-related PPP loan from the SBA of $1,659,167.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Dime Community Bank
Electronic Payments, Inc in Calverton, NY received a Paycheck Protection Loan of $1.66M through Dime Community Bank, which was approved in April, 2020.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
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, Electronic Payments, Inc's 2019 payroll expenses are estimated to be at least $7.96M.
Based on their reported 126 jobs retained, this equals an estimated average yearly compensation of $63,206 per employee1
Reported PPP Proceed Usage:
On the PPP application, Electronic Payments, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,327,334
- Rent: $331,833
Business Information - Electronic Payments, Inc in Calverton, NY
1161 Scott Avenue
Calverton, NY 11933
Financial Transactions Processing, Reserve, and Clearinghouse Activities
NAICS code 522320
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 4,469 businesses in the "Financial Transactions Processing, Reserve, and Clearinghouse Activities" industry received a total of $319.01M 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 6 employees, 95% lower than Electronic Payments, Inc's reported 126 employees, and received an average PPP loan of $71,384, 96% lower than this company's loan of $1.66M.
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Footnotes & Information
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