PPP Loan Data — Eliot Hill Corp, Middle Village, NY
Eliot Hill Corp is a subchapter s corporation located at 7119 Eliot Ave in Middle Village, New York that received a Coronavirus-related PPP loan from the SBA of $46,107.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:JPMorgan Chase Bank, National Association
Eliot Hill Corp in Middle Village, NY received a Paycheck Protection Loan of $46,107 through JPMorgan Chase Bank, National Association, which was approved in May, 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 May, 2021.
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, Eliot Hill Corp's 2019 payroll expenses are estimated to be at least $221,314.
Based on their reported 70 jobs retained, this equals an estimated average yearly compensation of $3,162 per employee1
Reported PPP Proceed Usage:
On the PPP application, Eliot Hill Corp reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $21,007
- Utilities: $5,000
- Rent: $20,100
Business Information - Eliot Hill Corp in Middle Village, NY
7119 Eliot Ave
Middle Village, NY 11379
NAICS code 722513
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Middle Village
In the Middle Village area, 40 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 8 employees (compared to this company's 70) and received an average PPP loan of $46,051 (compared to this company's $46,107).
Similar Nearby Businesses Who Received PPP Funding:
Middle Village, NY
Carlo Pizza Of Metropolitan Ave., Inc
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MJ Joseph Corp
Frank's Deli Of Maspeth, Inc
Grand Mars Bagel & Deli Inc
Jade Bamboo Chinese Cuisine Inc
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Zhen Good Taste Corp
R & L Cafe Inc
Rudi Deli Restaurant Corp
Industry PPP Comparison Statistics
Nationwide, 137,629 businesses in the "Limited-Service Restaurants" industry received a total of $13.9B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 21 employees, 70% lower than Eliot Hill Corp's reported 70 employees, and received an average PPP loan of $100,980, 119% higher than this company's loan of $46,107.
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Footnotes & Information
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