PPP Loan Data — HMB Distributors Inc, Brooklyn, NY
HMB Distributors Inc
Location: Brooklyn, NYTweet This • Search All PPP Data
HMB Distributors Inc is a corporation located at 1884 Mcdonald Ave Ste B in Brooklyn, New York that received a Coronavirus-related PPP loan from the SBA of $25,138.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bank of America, National Association
HMB Distributors Inc in Brooklyn, NY received a Paycheck Protection Loan of $25,138 through Bank of America, National Association, 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 April, 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, HMB Distributors Inc's 2019 payroll expenses are estimated to be at least $120,662.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,166 per employee1
Reported PPP Proceed Usage:
On the PPP application, HMB Distributors Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,138
Business Information - HMB Distributors Inc in Brooklyn, NY
1884 Mcdonald Ave Ste B
Brooklyn, NY 11223
Other Miscellaneous Nondurable Goods Merchant Wholesalers
NAICS code 424990
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Brooklyn
In the Brooklyn area, 28 businesses in the "Other Miscellaneous Nondurable Goods Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 4) and received an average PPP loan of $41,170 (compared to this company's $25,138).
Similar Nearby Businesses Who Received PPP Funding:
KY Trading Corp
Sky Paper Import And Export Inc
M & P 1980 Trading Inc
New York Trading Group Inc
April Distributor, Inc
CIA Consumer Electronics Corp
SP Trading Co
Industry PPP Comparison Statistics
Nationwide, 15,243 businesses in the "Other Miscellaneous Nondurable Goods Merchant Wholesalers" industry received a total of $1.34B 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 9 employees, 125% higher than HMB Distributors Inc's reported 4 employees, and received an average PPP loan of $88,038, 250% higher than this company's loan of $25,138.
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Footnotes & Information
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