FederalPay.org
PPP Loan Data — JAD Transportation Inc,
Plainview, NY
JAD Transportation Inc
Entity: Corporation
Industry: Professional Employer Organizations
Location: Plainview, NY
Tweet This
•
Search All PPP Data
JAD Transportation Inc is a corporation located at 105 Cedar Dr W in Plainview, New York that received a Coronavirus-related PPP loan from the SBA of $1,930,102.00 in April, 2021.
The company has reported itself as a Black or african american female owned business, and employed at least 281 people during the applicable loan loan period.
$
PPP Loan Information
Loan #8913048809
Loan Size:
Jobs Retained:
281Loan Approved:
2021-04-23Loan Status:
Ongoing LoanLender:
Signature BankJAD Transportation Inc in Plainview, NY received a Paycheck Protection Loan of $1.93M through Signature Bank, which was approved in April, 2021.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
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 MoreUnderstanding 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 MoreBased 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, JAD Transportation Inc's 2019 payroll expenses are estimated to be at least $9.26M.
Based on their reported 281 jobs retained, this equals an estimated average yearly compensation of $32,970 per employee1
Reported PPP Proceed Usage:
On the PPP application, JAD Transportation Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,930,101
- Utilities: $1
Business Information - JAD Transportation Inc in Plainview, NY
105 Cedar Dr W
Plainview, NY 11803
Business Industry:
Professional Employer Organizations
NAICS code 561330
Business Owner Demographics
Race: Black or African American
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 2,893 businesses in the "Professional Employer Organizations" industry received a total of $731.9M 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 27 employees, 90% lower than JAD Transportation Inc's reported 281 employees, and received an average PPP loan of $252,989, 87% lower than this company's loan of $1.93M.
JAD Transportation Inc
Entity: Corporation
Industry: Travel Agencies
Location: Plainview, NY
Tweet This
•
Search All PPP Data
JAD Transportation Inc is a corporation located at 105 Cedar Dr in Plainview, New York that received a Coronavirus-related PPP loan from the SBA of $4,411,794.00 in April, 2020.
The company has reported itself as a Black or african american female owned business, and employed at least 436 people during the applicable loan loan period.
$
PPP Loan Information
Loan #4200047205
Loan Size:
Jobs Retained:
436Loan Approved:
2020-04-27Loan Status:
Charged OffLender:
Cross River BankJAD Transportation Inc in Plainview, NY received a Paycheck Protection Loan of $4.41M through Cross River Bank, which was approved in April, 2020.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA. The loan's status was last updated by the SBA in July, 2022.
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 MoreUnderstanding 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 MoreBased 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, JAD Transportation Inc's 2019 payroll expenses are estimated to be at least $21.18M.
Based on their reported 436 jobs retained, this equals an estimated average yearly compensation of $48,570 per employee1
Reported PPP Proceed Usage:
On the PPP application, JAD Transportation Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $4,411,794
Business Information - JAD Transportation Inc in Plainview, NY
105 Cedar Dr
Plainview, NY 11803
Business Industry:
Travel Agencies
NAICS code 561510
Business Owner Demographics
Race: Black or African American
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age:
LMI Zone: N
HUBZone: Y
Rural / Urban: Urban
Similar Companies near Plainview
In the Plainview area, 8 businesses in the "Travel Agencies" industry received a PPP loan. These local businesses reported an average of 58 employees (compared to this company's 436) and received an average PPP loan of $591,569 (compared to this company's $4.41M).
Similar Nearby Businesses Who Received PPP Funding:
Best New York Tours Inc
Plainview, NY
Let's Go Travel, Inc
Plainview, NY
Y Pay More Travel Inc
Plainview, NY
Club America Travel & Tours Inc
Plainview, NY
Club America Travel & Tours Inc.-Sba Small 7A Term
Plainview, NY
Power Travel International, Inc
Plainview, NY
Industry PPP Comparison Statistics
Nationwide, 20,701 businesses in the "Travel Agencies" industry received a total of $871M 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 4 employees, 99% lower than JAD Transportation Inc's reported 436 employees, and received an average PPP loan of $42,075, 99% lower than this company's loan of $4.41M.
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.
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.
Have FederalPay.org's open data tools been valuable? Consider donating!