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PPP Loan Data — Hyannis Air Service Inc, Hyannis, MA

SBA PPP loan data, payroll data, and salaries for Hyannis Air Service Inc
MA

Hyannis Air Service Inc

Entity: Subchapter S Corporation

Industry: Nonscheduled Chartered Passenger Air Transportation

Location: Hyannis, MA

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Hyannis Air Service Inc is a subchapter s corporation located at 660 Barnstable Rd in Hyannis, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $8,134,253.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$8.13M

Jobs Retained:

500

Loan Approved:

2020-04-14

Lender:

CUSTOMERS BANK

Hyannis Air Service Inc in Hyannis, MA received a Paycheck Protection Loan of $8.13M through CUSTOMERS BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Hyannis Air Service Inc's total 2019 payroll expenses were approximately $39.04M in order to qualify for the PPP loan amount received.

Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $78,089 per employee1.

Because the loan received by Hyannis Air Service Inc 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 - Hyannis Air Service Inc in Hyannis, MA

Hyannis Air Service Inc
660 Barnstable Rd
Hyannis, MA 02601

Business Industry

Nonscheduled Chartered Passenger Air Transportation (NAICS code 481211)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MA-09

Industry PPP Comparison Statistics

Nationwide, 731 businesses in the "Nonscheduled Chartered Passenger Air Transportation" industry received a total of $238,649,021.00 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 20 employees, 96% lower than Hyannis Air Service Inc's reported 500 employees, and received an average PPP loan of $326,469, 96% lower than this company's loan of $8.13M.

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, 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/hyannis-air-service-inc-hyannis-ma