PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Epic Mechanical Contractors LLC, Commack, NY

ALERT: There are 2 PPP loans for a total of $5.49M in our database for businesses with the name "Epic Mechanical Contractors LLC" in Commack, NY. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Epic Mechanical Contractors LLC
NY

Epic Mechanical Contractors LLC

Entity: Limited Liability Company (LLC)

Industry: Plumbing, Heating, and Air-Conditioning Contractors

Location: Commack, NY

Search All PPP Data

Epic Mechanical Contractors LLC is a limited liability company (LLC) located at 76 Mall Dr in Commack, New York that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in March, 2021.

$ PPP Loan Information
Loan #8436928602

Loan Size:

$2M

Jobs Retained:

176

Loan Approved:

2021-03-24

Loan Status:

Ongoing Loan

Lender:

Signature Bank

Epic Mechanical Contractors LLC in Commack, NY received a Paycheck Protection Loan of $2M through Signature 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 More
Understanding 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 More

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, Epic Mechanical Contractors LLC's 2019 payroll expenses are estimated to be at least $9.6M.

Based on their reported 176 jobs retained, this equals an estimated average yearly compensation of $54,545 per employee1

Reported PPP Proceed Usage:

On the PPP application, Epic Mechanical Contractors LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,999,998
  • Utilities: $1
Because the loan received by Epic Mechanical Contractors LLC 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 - Epic Mechanical Contractors LLC in Commack, NY

Epic Mechanical Contractors LLC
76 Mall Dr
Commack, NY 11725

Business Industry:
Plumbing, Heating, and Air-Conditioning Contractors
NAICS code 238220

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Suffolk County, NY — SBA Office 0235 — Congressional District: NY-03

Businesses Using Same Address:

There are 2 other businesses that received a PPP loan registered to the same address as Epic Mechanical Contractors LLC.

4 Star Insulation Inc
Plumbing, Heating, and Air-Conditioning Contractors

$38,292 PPP Loan

Belco Industries LLC
Plumbing, Heating, and Air-Conditioning Contractors

$48,737 PPP Loan

Similar Companies near Commack

In the Commack area, 22 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a PPP loan. These local businesses reported an average of 17 employees (compared to this company's 176) and received an average PPP loan of $185,640 (compared to this company's $2M).

Industry PPP Comparison Statistics

Nationwide, 103,883 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a total of $13.03B 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 10 employees, 94% lower than Epic Mechanical Contractors LLC's reported 176 employees, and received an average PPP loan of $125,397, 94% lower than this company's loan of $2M.

SBA PPP loan data, payroll data, and salaries for Epic Mechanical Contractors LLC
NY

Epic Mechanical Contractors LLC

Entity: Limited Liability Company (LLC)

Industry: Electrical Contractors and Other Wiring Installation Contractors

Location: Commack, NY

Search All PPP Data

Epic Mechanical Contractors LLC is a limited liability company (LLC) located at 76 Mall Dr in Commack, New York that received a Coronavirus-related PPP loan from the SBA of $3,491,950.00 in April, 2020.

$ PPP Loan Information
Loan #7759307205

Loan Size:

$3.49M

Jobs Retained:

176

Loan Approved:

2020-04-28

Loan Status:

Paid in Full or Forgiven

Lender:

Signature Bank

Epic Mechanical Contractors LLC in Commack, NY received a Paycheck Protection Loan of $3.49M through Signature Bank, which was approved in April, 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 September, 2021.

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 More
Understanding 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 More

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, Epic Mechanical Contractors LLC's 2019 payroll expenses are estimated to be at least $16.76M.

Based on their reported 176 jobs retained, this equals an estimated average yearly compensation of $95,235 per employee1

Reported PPP Proceed Usage:

On the PPP application, Epic Mechanical Contractors LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $3,491,950
Because the loan received by Epic Mechanical Contractors LLC 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 - Epic Mechanical Contractors LLC in Commack, NY

Epic Mechanical Contractors LLC
76 Mall Dr
Commack, NY 11725

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Suffolk County, NY — SBA Office 0235 — Congressional District: NY-03

Businesses Using Same Address:

There are 2 other businesses that received a PPP loan registered to the same address as Epic Mechanical Contractors LLC.

4 Star Insulation Inc
Plumbing, Heating, and Air-Conditioning Contractors

$38,292 PPP Loan

Belco Industries LLC
Plumbing, Heating, and Air-Conditioning Contractors

$48,737 PPP Loan

Similar Companies near Commack

In the Commack area, 13 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a PPP loan. These local businesses reported an average of 24 employees (compared to this company's 176) and received an average PPP loan of $490,066 (compared to this company's $3.49M).

Industry PPP Comparison Statistics

Nationwide, 81,495 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a total of $11.75B 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, 94% lower than Epic Mechanical Contractors LLC's reported 176 employees, and received an average PPP loan of $144,173, 96% lower than this company's loan of $3.49M.

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.

Search FederalPay's Full PPP Loan Database

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.


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Source: www.federalpay.org/paycheck-protection-program/epic-mechanical-contractors-llc-commack-ny