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PPP Loan Data — Flooring Paymaster, LLC, Newcastle, DE

SBA PPP loan data, payroll data, and salaries for Flooring Paymaster, LLC
DE

Flooring Paymaster, LLC

Entity: Limited Liability Company (LLC)

Industry: Payroll Services

Location: Newcastle, DE

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Flooring Paymaster, LLC is a limited liability company (LLC) located at 230 North Dupont Highway in Newcastle, Delaware that received a Coronavirus-related PPP loan from the SBA of $2,894,417.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.89M

Jobs Retained:

323

Loan Approved:

2020-04-15

Lender:

MANUFACTURERS AND TRADERS TRUST COMPANY

Flooring Paymaster, LLC received a Paycheck Protection Loan of $2.89M through MANUFACTURERS AND TRADERS TRUST COMPANY, which was approved in April, 2020.

Based on standard PPP eligibility rules, Flooring Paymaster, LLC's total 2019 payroll expenses were approximately $13.89M in order to qualify for the PPP loan amount received.

Based on their reported 323 jobs retained, this equals an estimated average yearly compensation of $43,013 per employee1.

Because the loan received by Flooring Paymaster, 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 - Flooring Paymaster, LLC in Newcastle, DE

Flooring Paymaster, LLC
230 North Dupont Highway
Newcastle, DE 19720

Business Industry

Payroll Services (NAICS code 541214)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: DE-

Industry PPP Comparison Statistics

Nationwide, 2,351 businesses in the "Payroll Services" industry received a total of $440,646,100.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 17 employees, 95% lower than Flooring Paymaster, LLC's reported 323 employees, and received an average PPP loan of $187,429, 94% lower than this company's loan of $2.89M.

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.

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Footnotes & Information

1. 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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/flooring-paymaster-llc-newcastle-de