PPP Loan Data — JGB Glass Corp, Nyack, NY
JGB Glass Corp is a corporation located at 64 W Catherine St. in Nyack, New York that received a Coronavirus-related PPP loan from the SBA of $47,000.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least four people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Loan Source Incorporated
JGB Glass Corp in Nyack, NY received a Paycheck Protection Loan of $47,000 through Loan Source Incorporated, 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.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
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, JGB Glass Corp's 2019 payroll expenses are estimated to be at least $225,600.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $56,400 per employee1
Reported PPP Proceed Usage:
On the PPP application, JGB Glass Corp reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $47,000
Business Information - JGB Glass Corp in Nyack, NY
64 W Catherine St.
Nyack, NY 10960
Glass and Glazing Contractors
NAICS code 238150
Business Owner Demographics
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 7,547 businesses in the "Glass and Glazing Contractors" industry received a total of $1.07B 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 12 employees, 200% higher than JGB Glass Corp's reported 4 employees, and received an average PPP loan of $142,027, 202% higher than this company's loan of $47,000.
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Footnotes & Information
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