PPP Loan Data — Keltie Ferris Inc, Bearsville, NY
Keltie Ferris Inc is a corporation located at 36 Happy Valley Rd in Bearsville, New York that received a Coronavirus-related PPP loan from the SBA of $25,447.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank of America, National Association
Keltie Ferris Inc in Bearsville, NY received a Paycheck Protection Loan of $25,447 through Bank of America, National Association, which was approved in May, 2020.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 1. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
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, Keltie Ferris Inc's 2019 payroll expenses are estimated to be at least $122,146 (not accounting for salary amounts > $100k).
Because the 1 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, Keltie Ferris Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,447
Business Information - Keltie Ferris Inc in Bearsville, NY
36 Happy Valley Rd
Bearsville, NY 12409
All Other Support Services
NAICS code 561990
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 33,705 businesses in the "All Other Support Services" industry received a total of $1.71B 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 7 employees, 600% higher than Keltie Ferris Inc's reported 1 employees, and received an average PPP loan of $50,635, 99% higher than this company's loan of $25,447.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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