PPP Loan Data — Force Dynamics Inc, Trumansburg, NY
Force Dynamics Inc is a subchapter s corporation located at 4995 Voorheis Rd. in Trumansburg, New York that received a Coronavirus-related PPP loan from the SBA of $25,250.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Tompkins Trust Company
Force Dynamics Inc in Trumansburg, NY received a Paycheck Protection Loan of $25,250 through Tompkins Trust Company, which was approved in April, 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, Force Dynamics Inc's 2019 payroll expenses are estimated to be at least $121,200.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,600 per employee1
Reported PPP Proceed Usage:
On the PPP application, Force Dynamics Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,250
Business Information - Force Dynamics Inc in Trumansburg, NY
4995 Voorheis Rd.
Trumansburg, NY 14886
Other Motion Picture and Video Industries
NAICS code 512199
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 3,304 businesses in the "Other Motion Picture and Video Industries" industry received a total of $110.55M 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 3 employees, 50% higher than Force Dynamics Inc's reported 2 employees, and received an average PPP loan of $33,460, 33% higher than this company's loan of $25,250.
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Footnotes & Information
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