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PPP Loan Data — Integralift Elevator Services LLC, Brooklyn, NY

SBA PPP loan data, payroll data, and salaries for Integralift Elevator Services LLC
NY

Integralift Elevator Services LLC

Entity: Limited Liability Company (LLC)

Industry: Industrial Machinery and Equipment Merchant Wholesalers

Location: Brooklyn, NY

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Integralift Elevator Services LLC is a limited liability company (LLC) located at 1967 Mcdonald Ave in Brooklyn, New York that received a Coronavirus-related PPP loan from the SBA of $267,727.00 in May, 2020.

The company has reported itself as a White male owned business, and employed at least fourteen people during the applicable loan loan period.

$ PPP Loan Information
Loan #3084797705

Loan Size:

$267,727

Jobs Retained:

14

Loan Approved:

2020-05-01

Loan Status:

Paid in Full or Forgiven

Lender:

JPMorgan Chase Bank, National Association

Integralift Elevator Services LLC in Brooklyn, NY received a Paycheck Protection Loan of $267,727 through JPMorgan Chase Bank, 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 July, 2021.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Integralift Elevator Services LLC's 2019 payroll expenses are estimated to be at least $1.29M.

Based on their reported 14 jobs retained, this equals an estimated average yearly compensation of $91,792 per employee1

Reported PPP Proceed Usage:

On the PPP application, Integralift Elevator Services LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $267,727

Business Information - Integralift Elevator Services LLC in Brooklyn, NY

Integralift Elevator Services LLC
1967 Mcdonald Ave
Brooklyn, NY 11223

Business Industry:
Industrial Machinery and Equipment Merchant Wholesalers
NAICS code 423830

Business Owner Demographics

Race: White

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: New Business or 2 years or less

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Kings County, NY — SBA Office 0202 — Congressional District: NY-11

Businesses Using Same Address:

There is one other business that received a PPP loan registered to the same address as Integralift Elevator Services LLC.

Elite Hhc LLC
Home Health Care Services

$4.61M PPP Loan

Similar Companies near Brooklyn

In the Brooklyn area, 2 businesses in the "Industrial Machinery and Equipment Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 10 employees (compared to this company's 14) and received an average PPP loan of $190,114 (compared to this company's $267,727).

Similar Nearby Businesses Who Received PPP Funding:

K & J Lift Inc
Brooklyn, NY

$112,500 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 11,033 businesses in the "Industrial Machinery and Equipment Merchant Wholesalers" industry received a total of $2.24B 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 15 employees, 7% higher than Integralift Elevator Services LLC's reported 14 employees, and received an average PPP loan of $203,255, 24% lower than this company's loan of $267,727.

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. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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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Source: www.federalpay.org/paycheck-protection-program/integralift-elevator-services-llc-brooklyn-ny