PPP Loan Data — Express Millwork Inc, New York, NY
Express Millwork Inc
Location: New York, NYTweet This • Search All PPP Data
Express Millwork Inc is a corporation located at 51 W 14th St in New York, New York that received a Coronavirus-related PPP loan from the SBA of $25,300.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Express Millwork Inc in New York, NY received a Paycheck Protection Loan of $25,300 through Citibank, N.A., which was approved in May, 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, Express Millwork Inc's 2019 payroll expenses are estimated to be at least $121,440.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $20,240 per employee1
Reported PPP Proceed Usage:
On the PPP application, Express Millwork Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,300
Business Information - Express Millwork Inc in New York, NY
51 W 14th St
New York, NY 10011
Lumber, Plywood, Millwork, and Wood Panel Merchant Wholesalers
NAICS code 423310
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near New York
In the New York area, 3 businesses in the "Lumber, Plywood, Millwork, and Wood Panel Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 6) and received an average PPP loan of $45,130 (compared to this company's $25,300).
Similar Nearby Businesses Who Received PPP Funding:
Relative Space Inc
New York, NY
New York, NY
Industry PPP Comparison Statistics
Nationwide, 5,326 businesses in the "Lumber, Plywood, Millwork, and Wood Panel Merchant Wholesalers" industry received a total of $1.04B 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 18 employees, 200% higher than Express Millwork Inc's reported 6 employees, and received an average PPP loan of $194,849, 670% higher than this company's loan of $25,300.
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Footnotes & Information
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