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PPP Loan Data — Ferrandino & Son Inc,
Farmingdale, NY
Ferrandino & Son Inc
Entity: Corporation
Industry: Facilities Support Services
Location: Farmingdale, NY
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Ferrandino & Son Inc is a corporation located at 71 Carolyn Blvd in Farmingdale, New York that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in January, 2021.
$
PPP Loan Information
Loan #6455748309
Loan Size:
Jobs Retained:
272Loan Approved:
2021-01-27Loan Status:
Ongoing LoanLender:
PNC Bank, National AssociationFerrandino & Son Inc in Farmingdale, NY received a Paycheck Protection Loan of $2M through PNC Bank, National Association, which was approved in January, 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, Ferrandino & Son Inc's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 272 jobs retained, this equals an estimated average yearly compensation of $35,294 per employee1
Reported PPP Proceed Usage:
On the PPP application, Ferrandino & Son Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,998
- Utilities: $1
Business Information - Ferrandino & Son Inc in Farmingdale, NY
71 Carolyn Blvd
Farmingdale, NY 11735
Business Industry:
Facilities Support Services
NAICS code 561210
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Farmingdale
In the Farmingdale area, 2 businesses in the "Facilities Support Services" industry received a PPP loan. These local businesses reported an average of 137 employees (compared to this company's 272) and received an average PPP loan of $1,001,628 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Spectacular Site Services, Inc
Farmingdale, NY
Industry PPP Comparison Statistics
Nationwide, 3,510 businesses in the "Facilities Support Services" industry received a total of $587.6M 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 19 employees, 93% lower than Ferrandino & Son Inc's reported 272 employees, and received an average PPP loan of $167,407, 92% lower than this company's loan of $2M.
Ferrandino & Son, Inc
Entity: Corporation
Industry: Landscaping Services
Location: Farmingdale, NY
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Ferrandino & Son, Inc is a corporation located at 71carolyn Blvd in Farmingdale, New York that received a Coronavirus-related PPP loan from the SBA of $3,113,600.00 in April, 2020.
$
PPP Loan Information
Loan #8188807006
Loan Size:
Jobs Retained:
301Loan Approved:
2020-04-08Loan Status:
Ongoing LoanLender:
PNC Bank, National AssociationFerrandino & Son, Inc in Farmingdale, NY received a Paycheck Protection Loan of $3.11M through PNC Bank, National Association, which was approved in April, 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, Ferrandino & Son, Inc's 2019 payroll expenses are estimated to be at least $14.95M.
Based on their reported 301 jobs retained, this equals an estimated average yearly compensation of $49,652 per employee1
Reported PPP Proceed Usage:
On the PPP application, Ferrandino & Son, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $3,113,600
Business Information - Ferrandino & Son, Inc in Farmingdale, NY
71carolyn Blvd
Farmingdale, NY 11735
Business Industry:
Landscaping Services
NAICS code 561730
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Farmingdale
In the Farmingdale area, 17 businesses in the "Landscaping Services" industry received a PPP loan. These local businesses reported an average of 24 employees (compared to this company's 301) and received an average PPP loan of $225,395 (compared to this company's $3.11M).
Similar Nearby Businesses Who Received PPP Funding:
Platinum Site Development Inc
Farmingdale, NY
Fabian's Quality Landscaping Corp
Farmingdale, NY
Emerald Contracting LLC
Farmingdale, NY
West Winds Landscaping Masonry Inc
Farmingdale, NY
North Shore Design Group LLC
Farmingdale, NY
Starkie Brothers Custom Landscaping, Inc
Farmingdale, NY
Robert H Witcomb Landscape Gardening Inc
Farmingdale, NY
Green Giant Tree Service
Farmingdale, NY
Industry PPP Comparison Statistics
Nationwide, 84,448 businesses in the "Landscaping Services" industry received a total of $5.07B 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 8 employees, 97% lower than Ferrandino & Son, Inc's reported 301 employees, and received an average PPP loan of $60,056, 98% lower than this company's loan of $3.11M.
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.
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