PPP Loan Data — KEL-Tech Construction Inc, Far Rockaway, NY
KEL-Tech Construction Inc is a subchapter s corporation located at 1211 Redfern Avenue in Far Rockaway, New York that received a Coronavirus-related PPP loan from the SBA of $3,319,440.00 in April, 2020.
$ PPP Loan Information
Lender:MANUFACTURERS AND TRADERS TRUST COMPANY
KEL-Tech Construction Inc in Far Rockaway, NY received a Paycheck Protection Loan of $3.32M through MANUFACTURERS AND TRADERS TRUST COMPANY, which was approved in April, 2020.
Based on standard PPP eligibility rules, KEL-Tech Construction Inc's total 2019 payroll expenses were approximately $15.93M in order to qualify for the PPP loan amount received.
Based on their reported 179 jobs retained, this equals an estimated average yearly compensation of $89,013 per employee1.
Business Information - KEL-Tech Construction Inc in Far Rockaway, NY
1211 Redfern Avenue
Far Rockaway, NY 11691
Masonry Contractors (NAICS code 238140)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: NY-05
Industry PPP Comparison Statistics
Nationwide, 8,054 businesses in the "Masonry Contractors" industry received a total of $1,051,191,192.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 10 employees, 94% lower than KEL-Tech Construction Inc's reported 179 employees, and received an average PPP loan of $130,518, 96% lower than this company's loan of $3.32M.
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, and is published unmodified, as provided by the SBA.
Footnotes & Information
1. 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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