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PPP Loan Data — J Mitacek, Contracting Corp, New Hyde Park, NY

SBA PPP loan data, payroll data, and salaries for J Mitacek, Contracting Corp
NY

J Mitacek, Contracting Corp

Entity: Corporation

Industry: Commercial and Institutional Building Construction

Location: New Hyde Park, NY

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J Mitacek, Contracting Corp is a corporation located at 306 Jericho Tpke 306 Jericho Turnpike in New Hyde Park, New York that received a Coronavirus-related PPP loan from the SBA of $105,600.00 in July, 2020.

$ PPP Loan Information
Loan #9987818006

Loan Size:

$105,600

Jobs Retained:

11

Loan Approved:

2020-07-08

Loan Status:

Active Un-Disbursed

Lender:

Newtek Small Business Finance, Inc.
PPP Funds Undisbursed

J Mitacek, Contracting Corp in New Hyde Park, NY received a Paycheck Protection Loan of $105,600 through Newtek Small Business Finance, Inc., which was approved in July, 2020.

While this loan has been approved by the Small Business Administration, the lender has not reported to the SBA that the loan funds were disbursed to the borrower. According to SBA records, a total of $105,600 in approved PPP funding has not been disbursed. The loan's status was last updated by the SBA in July, 2020.

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, J Mitacek, Contracting Corp's 2019 payroll expenses are estimated to be at least $506,880.

Based on their reported 11 jobs retained, this equals an estimated average yearly compensation of $46,080 per employee1

Reported PPP Proceed Usage:

On the PPP application, J Mitacek, Contracting Corp reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $105,600

Business Information - J Mitacek, Contracting Corp in New Hyde Park, NY

J Mitacek, Contracting Corp
306 Jericho Tpke 306 Jericho Turnpike
New Hyde Park, NY 11040

Business Industry:
Commercial and Institutional Building Construction
NAICS code 236220

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: New Business or 2 years or less

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Nassau County, NY — SBA Office 0235 — Congressional District: NY-04

Similar Companies near New Hyde Park

In the New Hyde Park area, 38 businesses in the "Commercial and Institutional Building Construction" industry received a PPP loan. These local businesses reported an average of 20 employees (compared to this company's 11) and received an average PPP loan of $361,168 (compared to this company's $105,600).

Industry PPP Comparison Statistics

Nationwide, 117,314 businesses in the "Commercial and Institutional Building Construction" industry received a total of $13.98B 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 10 employees, 9% lower than J Mitacek, Contracting Corp's reported 11 employees, and received an average PPP loan of $119,198, 13% higher than this company's loan of $105,600.

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.

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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/j-mitacek-contracting-corp-new-hyde-park-ny