PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Ivan's LLC, Cortland, NY

ALERT: There are 2 PPP loans for a total of $17,402 in our database for businesses with the name "Ivan's LLC" in Cortland, NY. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Ivan's LLC
NY

Ivan's LLC

Entity: Limited Liability Company (LLC)

Industry: Limited-Service Restaurants

Location: Cortland, NY

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Ivan's LLC is a limited liability company (LLC) located at 206 S Main St in Cortland, New York that received a Coronavirus-related PPP loan from the SBA of $12,200.00 in January, 2021.

$ PPP Loan Information
Loan #7010378307

Loan Size:

$12,200

Jobs Retained:

2

Loan Approved:

2021-01-27

Loan Status:

Paid in Full or Forgiven

Lender:

The First National Bank of Groton

Ivan's LLC in Cortland, NY received a Paycheck Protection Loan of $12,200 through The First National Bank of Groton, which was approved in January, 2021.

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 October, 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, Ivan's LLC's 2019 payroll expenses are estimated to be at least $58,560.

Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $29,280 per employee1

Reported PPP Proceed Usage:

On the PPP application, Ivan's LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $12,198
  • Utilities: $1

Business Information - Ivan's LLC in Cortland, NY

Ivan's LLC
206 S Main St
Cortland, NY 13045

Business Industry:
Limited-Service Restaurants
NAICS code 722513

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: Y

Rural / Urban: Rural

Cortland County, NY — SBA Office 0248 — Congressional District: NY-22

Similar Companies near Cortland

In the Cortland area, 24 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 69 employees (compared to this company's 2) and received an average PPP loan of $358,076 (compared to this company's $12,200).

Industry PPP Comparison Statistics

Nationwide, 136,560 businesses in the "Limited-Service Restaurants" industry received a total of $13.87B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 2% of the total PPP funding allocated.

PPP recipients in this industry report an average of 21 employees, 950% higher than Ivan's LLC's reported 2 employees, and received an average PPP loan of $101,544, 732% higher than this company's loan of $12,200.

SBA PPP loan data, payroll data, and salaries for Ivan's LLC
NY

Ivan's LLC

Entity: Limited Liability Company (LLC)

Industry: All Other Miscellaneous Store Retailers (except Tobacco Stores)

Location: Cortland, NY

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Ivan's LLC is a limited liability company (LLC) located at 206 Main Street in Cortland, New York that received a Coronavirus-related PPP loan from the SBA of $5,202.00 in May, 2020.

$ PPP Loan Information
Loan #1601017803

Loan Size:

$5,202

Jobs Retained:

3

Loan Approved:

2020-05-21

Loan Status:

Paid in Full or Forgiven

Lender:

Celtic Bank Corporation

Ivan's LLC in Cortland, NY received a Paycheck Protection Loan of $5,202 through Celtic Bank Corporation, 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 September, 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, Ivan's LLC's 2019 payroll expenses are estimated to be at least $24,970.

Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $8,323 per employee1

Reported PPP Proceed Usage:

On the PPP application, Ivan's LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $3,902
  • Utilities: $650
  • Rent: $650

Business Information - Ivan's LLC in Cortland, NY

Ivan's LLC
206 Main Street
Cortland, NY 13045

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: Y

Rural / Urban: Rural

Cortland County, NY — SBA Office 0248 — Congressional District: NY-22

Similar Companies near Cortland

In the Cortland area, 7 businesses in the "All Other Miscellaneous Store Retailers (except Tobacco Stores)" industry received a PPP loan. These local businesses reported an average of 12 employees (compared to this company's 3) and received an average PPP loan of $64,013 (compared to this company's $5,202).

Industry PPP Comparison Statistics

Nationwide, 146,534 businesses in the "All Other Miscellaneous Store Retailers (except Tobacco Stores)" industry received a total of $5.11B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.

PPP recipients in this industry report an average of 4 employees, 33% higher than Ivan's LLC's reported 3 employees, and received an average PPP loan of $34,905, 571% higher than this company's loan of $5,202.

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/ivans-llc-cortland-ny