FederalPay.org
PPP Loan Data — EOS Electrical Corp,
Long Island City, NY
EOS Electrical Corp
Entity: Corporation
Industry: Electrical Contractors and Other Wiring Installation Contractors
Location: Long Island City, NY
Tweet This
•
Search All PPP Data
EOS Electrical Corp is a corporation located at 3100 47th Ave Ste 3100 in Long Island City, New York that received a Coronavirus-related PPP loan from the SBA of $4,262.00 in March, 2021.
The company has reported itself as a male owned business, and employed at least two people during the applicable loan loan period.
$
PPP Loan Information
Loan #6167158500
Loan Size:
Jobs Retained:
2Loan Approved:
2021-03-03Loan Status:
Ongoing LoanLender:
Customers BankEOS Electrical Corp in Long Island City, NY received a Paycheck Protection Loan of $4,262 through Customers Bank, which was approved in March, 2021.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, EOS Electrical Corp's 2019 payroll expenses are estimated to be at least $20,458.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $10,229 per employee1
Reported PPP Proceed Usage:
On the PPP application, EOS Electrical Corp reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $4,262
Business Information - EOS Electrical Corp in Long Island City, NY
3100 47th Ave Ste 3100
Long Island City, NY 11101
Business Industry:
Electrical Contractors and Other Wiring Installation Contractors
NAICS code 238210
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: Y
Rural / Urban: Urban
Similar Companies near Long Island City
In the Long Island City area, 101 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a PPP loan. These local businesses reported an average of 29 employees (compared to this company's 2) and received an average PPP loan of $604,875 (compared to this company's $4,262).
Similar Nearby Businesses Who Received PPP Funding:
Lowy & Donnath Inc
Long Island City, NY
H. & L. Electric Inc
Long Island City, NY
Elcro Inc
Astoria, NY
Kobryn Electrical Services Inc
Long Island City, NY
P & Z Electric Corp
Long Island City, NY
Bigman Brothers Inc
Long Island City, NY
A D Winston Corp
Long Island City, NY
QEC Eletrical Services Corp
Long Island City, NY
Samco Electric Corp
New York, NY
Industry PPP Comparison Statistics
Nationwide, 82,626 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a total of $11.77B 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 11 employees, 450% higher than EOS Electrical Corp's reported 2 employees, and received an average PPP loan of $142,494, 3243% higher than this company's loan of $4,262.
EOS Electrical Corp
Entity: Corporation
Industry: Electrical Contractors and Other Wiring Installation Contractors
Location: Long Island City, NY
Tweet This
•
Search All PPP Data
EOS Electrical Corp is a corporation located at 31-00 47 Avenue Suite 3100 in Long Island City, New York that received a Coronavirus-related PPP loan from the SBA of $3,401.00 in May, 2020.
The company has reported itself as a male owned business, and employed at least two people during the applicable loan loan period.
$
PPP Loan Information
Loan #2152057802
Loan Size:
Jobs Retained:
2Loan Approved:
2020-05-22Loan Status:
Ongoing LoanLender:
Cross River BankEOS Electrical Corp in Long Island City, NY received a Paycheck Protection Loan of $3,401 through Cross River Bank, which was approved in May, 2020.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, EOS Electrical Corp's 2019 payroll expenses are estimated to be at least $16,325.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $8,163 per employee1
Reported PPP Proceed Usage:
On the PPP application, EOS Electrical Corp reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $3,401
Business Information - EOS Electrical Corp in Long Island City, NY
31-00 47 Avenue Suite 3100
Long Island City, NY 11101
Business Industry:
Electrical Contractors and Other Wiring Installation Contractors
NAICS code 238210
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: Y
Rural / Urban: Urban
Similar Companies near Long Island City
In the Long Island City area, 101 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a PPP loan. These local businesses reported an average of 29 employees (compared to this company's 2) and received an average PPP loan of $604,875 (compared to this company's $3,401).
Similar Nearby Businesses Who Received PPP Funding:
Lowy & Donnath Inc
Long Island City, NY
H. & L. Electric Inc
Long Island City, NY
Elcro Inc
Astoria, NY
Kobryn Electrical Services Inc
Long Island City, NY
P & Z Electric Corp
Long Island City, NY
Bigman Brothers Inc
Long Island City, NY
A D Winston Corp
Long Island City, NY
QEC Eletrical Services Corp
Long Island City, NY
Samco Electric Corp
New York, NY
Industry PPP Comparison Statistics
Nationwide, 82,626 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a total of $11.77B 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 11 employees, 450% higher than EOS Electrical Corp's reported 2 employees, and received an average PPP loan of $142,494, 4090% higher than this company's loan of $3,401.
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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
Footnotes & Information
1. Estimations for informational purposes only. 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.
Have FederalPay.org's open data tools been valuable? Consider donating!