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PPP Loan Data — Lane-Valente Industries Inc,
Smithtown, NY
Lane-Valente Industries Inc
Entity: Corporation
Industry: Facilities Support Services
Location: Smithtown, NY
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Lane-Valente Industries Inc is a corporation located at 98 Maple Ave in Smithtown, New York that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in February, 2021.
$
PPP Loan Information
Loan #4384038507
Loan Size:
Jobs Retained:
280Loan Approved:
2021-02-25Loan Status:
Paid in Full or ForgivenLender:
JPMorgan Chase Bank, National AssociationLane-Valente Industries Inc in Smithtown, NY received a Paycheck Protection Loan of $2M through JPMorgan Chase Bank, National Association, which was approved in February, 2021.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in May, 2022.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Lane-Valente Industries Inc's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 280 jobs retained, this equals an estimated average yearly compensation of $34,286 per employee1
Reported PPP Proceed Usage:
On the PPP application, Lane-Valente Industries Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,000,000
Business Information - Lane-Valente Industries Inc in Smithtown, NY
98 Maple Ave
Smithtown, NY 11787
Business Industry:
Facilities Support Services
NAICS code 561210
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Smithtown
In the Smithtown area, 5 businesses in the "Facilities Support Services" industry received a PPP loan. These local businesses reported an average of 152 employees (compared to this company's 280) and received an average PPP loan of $602,221 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
A & A Trucks Loaders & Equipment LLC
Smithtown, NY
CS Hudson Inc
Hauppauge, NY
PRC Industries Inc
Hauppauge, NY
Anthony Farina Jr
Smithtown, NY
Industry PPP Comparison Statistics
Nationwide, 5,135 businesses in the "Facilities Support Services" industry received a total of $629.05M 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 14 employees, 95% lower than Lane-Valente Industries Inc's reported 280 employees, and received an average PPP loan of $122,502, 94% lower than this company's loan of $2M.
Lane-Valente Industries Inc
Entity: Corporation
Industry: Commercial and Institutional Building Construction
Location: Smithtown, NY
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Lane-Valente Industries Inc is a corporation located at 98 Maple Ave in Smithtown, New York that received a Coronavirus-related PPP loan from the SBA of $4,636,385.00 in May, 2020.
$
PPP Loan Information
Loan #2124067710
Loan Size:
Jobs Retained:
291Loan Approved:
2020-05-01Loan Status:
Paid in Full or ForgivenLender:
JPMorgan Chase Bank, National AssociationLane-Valente Industries Inc in Smithtown, NY received a Paycheck Protection Loan of $4.64M through JPMorgan Chase Bank, National Association, which was approved in May, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in October, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Lane-Valente Industries Inc's 2019 payroll expenses are estimated to be at least $22.25M.
Based on their reported 291 jobs retained, this equals an estimated average yearly compensation of $76,476 per employee1
Reported PPP Proceed Usage:
On the PPP application, Lane-Valente Industries Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $3,602,048
- Utilities: $21,000
- Rent: $196,374
- Health Care: $816,963
Business Information - Lane-Valente Industries Inc in Smithtown, NY
98 Maple Ave
Smithtown, NY 11787
Business Industry:
Commercial and Institutional Building Construction
NAICS code 236220
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Smithtown
In the Smithtown area, 49 businesses in the "Commercial and Institutional Building Construction" industry received a PPP loan. These local businesses reported an average of 31 employees (compared to this company's 291) and received an average PPP loan of $512,702 (compared to this company's $4.64M).
Similar Nearby Businesses Who Received PPP Funding:
Nova Innovations Inc
Smithtown, NY
Kulka LLC
Hauppauge, NY
Gold Coast Standard LLC
Smithtown, NY
Bear Contracting LLC
Shoreham, NY
American Bath & Tile Corp
Smithtown, NY
West Rac Contracting Corp
Hauppauge, NY
M&L Mechanical Of NY Inc
Smithtown, NY
Oncore Contractors And Builders, LLC
Hauppauge, NY
2020 Prospect Inc
Hauppauge, NY
Industry PPP Comparison Statistics
Nationwide, 77,366 businesses in the "Commercial and Institutional Building Construction" industry received a total of $12.37B 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 12 employees, 96% lower than Lane-Valente Industries Inc's reported 291 employees, and received an average PPP loan of $159,915, 97% lower than this company's loan of $4.64M.
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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
Footnotes & Information
1. Estimations for informational purposes only. 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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