PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — KEL-Tech Construction Inc, Far Rockaway, NY

SBA PPP loan data, payroll data, and salaries for KEL-Tech Construction Inc
NY

KEL-Tech Construction Inc

Entity: Subchapter S Corporation

Industry: Masonry Contractors

Location: Far Rockaway, NY

Search All PPP Data

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

Loan Size:

$3.32M

Jobs Retained:

179

Loan Approved:

2020-04-13

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.

Because the loan received by KEL-Tech Construction Inc is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - KEL-Tech Construction Inc in Far Rockaway, NY

KEL-Tech Construction Inc
1211 Redfern Avenue
Far Rockaway, NY 11691

Business Industry

Masonry Contractors (NAICS code 238140)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional 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.

Search FederalPay's Full PPP Loan Database

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.


Have FederalPay.org's open data tools been valuable? Consider donating!

** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/kel-tech-construction-inc-far-rockaway-ny