PPP Loan Data — Joseph M Sosler Assoc, Goshen, NY
Joseph M Sosler Assoc is a sole proprietorship located at 182 Greenwich Ave in Goshen, New York that received a Coronavirus-related PPP loan from the SBA of $25,313.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bank of America, National Association
Joseph M Sosler Assoc in Goshen, NY received a Paycheck Protection Loan of $25,313 through Bank of America, National Association, which was approved in May, 2020.
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, Joseph M Sosler Assoc's 2019 payroll expenses are estimated to be at least $121,502.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $24,300 per employee1
Reported PPP Proceed Usage:
On the PPP application, Joseph M Sosler Assoc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,313
Business Information - Joseph M Sosler Assoc in Goshen, NY
182 Greenwich Ave
Goshen, NY 10924
All Other Business Support Services
NAICS code 561499
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Goshen
In the Goshen area, 5 businesses in the "All Other Business Support Services" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 5) and received an average PPP loan of $30,703 (compared to this company's $25,313).
Similar Nearby Businesses Who Received PPP Funding:
The Chamber Of Commerce Of Orange County Inc
Goshen Atm LLC
UK Interiors, Inc
Greenwood Lake, NY
Orange County Chamber Of Commerce Inc
Industry PPP Comparison Statistics
Nationwide, 53,190 businesses in the "All Other Business Support Services" industry received a total of $2.63B 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 6 employees, 20% higher than Joseph M Sosler Assoc's reported 5 employees, and received an average PPP loan of $49,465, 95% higher than this company's loan of $25,313.
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Footnotes & Information
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