PPP Loan Data — John Franco Contractors Inc, Lloyd Neck, NY
John Franco Contractors Inc is a corporation located at 10 Hawk Drive in Lloyd Neck, New York that received a Coronavirus-related PPP loan from the SBA of $25,432.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:People's United Bank, National Association
John Franco Contractors Inc in Lloyd Neck, NY received a Paycheck Protection Loan of $25,432 through People's United Bank, National Association, which was approved in April, 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 April, 2021.
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, John Franco Contractors Inc's 2019 payroll expenses are estimated to be at least $122,074.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $20,346 per employee1
Reported PPP Proceed Usage:
On the PPP application, John Franco Contractors Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,432
Business Information - John Franco Contractors Inc in Lloyd Neck, NY
10 Hawk Drive
Lloyd Neck, NY 11743
NAICS code 236118
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Lloyd Neck
In the Lloyd Neck area, 42 businesses in the "Residential Remodelers" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 6) and received an average PPP loan of $49,068 (compared to this company's $25,432).
Similar Nearby Businesses Who Received PPP Funding:
Glitz Construction Corp
Chelsea Home Remodeling Inc
Artisan Remodelers Inc
Rino Construction Corp
Huxley Ridge Design & Development Inc
TM Contracting Solutions Inc
Fratelli Home Renovation Corp
Industry PPP Comparison Statistics
Nationwide, 175,017 businesses in the "Residential Remodelers" industry received a total of $5.32B 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 3 employees, 50% lower than John Franco Contractors Inc's reported 6 employees, and received an average PPP loan of $30,405, 20% higher than this company's loan of $25,432.
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Footnotes & Information
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