PPP Loan Data — L Dontis Produce, Brooklyn, NY
L Dontis Produce is a corporation located at 5600 1st Ave in Brooklyn, New York that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in January, 2021.
The company has reported itself as a White male owned business, and employed at least seven people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:New York Community Bank
L Dontis Produce in Brooklyn, NY received a Paycheck Protection Loan of $25,000 through New York Community Bank, which was approved in January, 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, L Dontis Produce's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 7 jobs retained, this equals an estimated average yearly compensation of $17,143 per employee1
Reported PPP Proceed Usage:
On the PPP application, L Dontis Produce reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,998
- Utilities: $1
Business Information - L Dontis Produce in Brooklyn, NY
5600 1st Ave
Brooklyn, NY 11220
Fresh Fruit and Vegetable Merchant Wholesalers
NAICS code 424480
Business Owner Demographics
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Brooklyn
In the Brooklyn area, 3 businesses in the "Fresh Fruit and Vegetable Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 7) and received an average PPP loan of $18,300 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
MK International Group Inc
L Dontis Produce Inc
Industry PPP Comparison Statistics
Nationwide, 4,225 businesses in the "Fresh Fruit and Vegetable Merchant Wholesalers" industry received a total of $800.94M 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 19 employees, 171% higher than L Dontis Produce's reported 7 employees, and received an average PPP loan of $189,572, 658% higher than this company's loan of $25,000.
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Footnotes & Information
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