PPP Loan Data — Lessings, Inc, Great River, NY
Lessings, Inc is a corporation located at 3500 Sunrise Hwy in Great River, New York that received a Coronavirus-related PPP loan from the SBA of $9,769,882.00 in April, 2020.
$ PPP Loan Information
Lender:THE FIRST NATIONAL BANK OF LONG ISLAND
Lessings, Inc in Great River, NY received a Paycheck Protection Loan of $9.77M through THE FIRST NATIONAL BANK OF LONG ISLAND, which was approved in April, 2020.
Based on standard PPP eligibility rules, Lessings, Inc's total 2019 payroll expenses were approximately $46.9M in order to qualify for the PPP loan amount received.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $93,791 per employee1.
Business Information - Lessings, Inc in Great River, NY
3500 Sunrise Hwy
Great River, NY 11739
Full-Service Restaurants (NAICS code 722511)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: NY-02
Similar Companies near Great River
In the Great River area, 9 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 65 employees (compared to this company's 500) and received an average PPP loan of $1,129,137 (compared to this company's $9.77M).
Similar Nearby Businesses Who Received PPP Funding:
R&B Los Amigos Restaurant Inc.
Tongsheng Japanese Cuisine Inc
Arroyo Holding Corp
Infante Restaurant Corp
Aztec Dream Inc
The Italian Ice Box, Inc
Healthy Meals Direct, LLC
MBC & Co
Industry PPP Comparison Statistics
Nationwide, 175,054 businesses in the "Full-Service Restaurants" industry received a total of $20,426,260,320.00 in PPP loans. These businesses account for 3% of total PPP applications submitted, and received 4% of the total PPP funding allocated.
PPP recipients in this industry report an average of 20 employees, 96% lower than Lessings, Inc's reported 500 employees, and received an average PPP loan of $116,685, 99% lower than this company's loan of $9.77M.
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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