PPP Loan Data — G&C Martin Logging Inc, Boonville, NY
G&C Martin Logging Inc is a corporation located at 8133 Kolosa Rd in Boonville, New York that received a Coronavirus-related PPP loan from the SBA of $46,417.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
G&C Martin Logging Inc in Boonville, NY received a Paycheck Protection Loan of $46,417 through Adirondack Bank, which was approved in May, 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 June, 2021.
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, G&C Martin Logging Inc's 2019 payroll expenses are estimated to be at least $222,802.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $37,134 per employee1
Reported PPP Proceed Usage:
On the PPP application, G&C Martin Logging Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,417
Business Information - G&C Martin Logging Inc in Boonville, NY
8133 Kolosa Rd
Boonville, NY 13309
NAICS code 113310
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Boonville
In the Boonville area, 6 businesses in the "Logging" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 6) and received an average PPP loan of $41,503 (compared to this company's $46,417).
Similar Nearby Businesses Who Received PPP Funding:
Patrick Croneiser Logging & Trucking, Inc
G & C Martin Logging Inc
Ron Spann Logging
Patrick Croneiser Logging And Trucking Inc
Industry PPP Comparison Statistics
Nationwide, 12,498 businesses in the "Logging" industry received a total of $628.53M 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 5 employees, 17% lower than G&C Martin Logging Inc's reported 6 employees, and received an average PPP loan of $50,291, 8% higher than this company's loan of $46,417.
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Footnotes & Information
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