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

PPP Loan Data — Losardo General Contractors Inc, Brooklyn, NY

ALERT: There are 2 PPP loans for a total of $5.43M in our database for businesses with the name "Losardo General Contractors Inc" in Brooklyn, NY. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Losardo General Contractors Inc
NY

Losardo General Contractors Inc

Entity: Subchapter S Corporation

Industry: Commercial and Institutional Building Construction

Location: Brooklyn, NY

Search All PPP Data

Losardo General Contractors Inc is a subchapter s corporation located at 35 Crescent St in Brooklyn, New York that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in February, 2021.

The company has reported itself as a White male owned business, and employed at least 170 people during the applicable loan loan period.

$ PPP Loan Information
Loan #1693198400

Loan Size:

$2M

Jobs Retained:

170

Loan Approved:

2021-02-02

Loan Status:

Ongoing Loan

Lender:

Ponce Bank

Losardo General Contractors Inc in Brooklyn, NY received a Paycheck Protection Loan of $2M through Ponce Bank, which was approved in February, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

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 More
Understanding 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 More

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, Losardo General Contractors Inc's 2019 payroll expenses are estimated to be at least $9.6M.

Based on their reported 170 jobs retained, this equals an estimated average yearly compensation of $56,471 per employee1

Reported PPP Proceed Usage:

On the PPP application, Losardo General Contractors Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,999,997
  • Utilities: $1
Because the loan received by Losardo General Contractors 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 - Losardo General Contractors Inc in Brooklyn, NY

Losardo General Contractors Inc
35 Crescent St
Brooklyn, NY 11208

Business Industry:
Commercial and Institutional Building Construction
NAICS code 236220

Business Owner Demographics

Race: White

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: Y

Rural / Urban: Urban

Kings County, NY — SBA Office 0202 — Congressional District: NY-07

Businesses Using Same Address:

There is one other business that received a PPP loan registered to the same address as Losardo General Contractors Inc.

Leviathan Mechanical Corp
Plumbing, Heating, and Air-Conditioning Contractors

$292,003 PPP Loan

Similar Companies near Brooklyn

In the Brooklyn area, 50 businesses in the "Commercial and Institutional Building Construction" industry received a PPP loan. These local businesses reported an average of 16 employees (compared to this company's 170) and received an average PPP loan of $174,203 (compared to this company's $2M).

Industry PPP Comparison Statistics

Nationwide, 77,396 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, 93% lower than Losardo General Contractors Inc's reported 170 employees, and received an average PPP loan of $159,889, 92% lower than this company's loan of $2M.

SBA PPP loan data, payroll data, and salaries for Losardo General Contractors Inc
NY

Losardo General Contractors Inc

Entity: Subchapter S Corporation

Industry: Residential Remodelers

Location: Brooklyn, NY

Search All PPP Data

Losardo General Contractors Inc is a subchapter s corporation located at 35 Crescent St in Brooklyn, New York that received a Coronavirus-related PPP loan from the SBA of $3,427,663.00 in April, 2020.

The company has reported itself as a White male owned business, and employed at least 200 people during the applicable loan loan period.

$ PPP Loan Information
Loan #1483767302

Loan Size:

$3.43M

Jobs Retained:

200

Loan Approved:

2020-04-28

Loan Status:

Ongoing Loan

Lender:

Ponce Bank

Losardo General Contractors Inc in Brooklyn, NY received a Paycheck Protection Loan of $3.43M through Ponce Bank, which was approved in April, 2020.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

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 More
Understanding 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 More

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, Losardo General Contractors Inc's 2019 payroll expenses are estimated to be at least $16.45M.

Based on their reported 200 jobs retained, this equals an estimated average yearly compensation of $82,264 per employee1

Reported PPP Proceed Usage:

On the PPP application, Losardo General Contractors Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $3,427,663
Because the loan received by Losardo General Contractors 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 - Losardo General Contractors Inc in Brooklyn, NY

Losardo General Contractors Inc
35 Crescent St
Brooklyn, NY 11208

Business Industry:
Residential Remodelers
NAICS code 236118

Business Owner Demographics

Race: White

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age:

LMI Zone: Y

HUBZone: Y

Rural / Urban: Urban

Kings County, NY — SBA Office 0202 — Congressional District: NY-07

Businesses Using Same Address:

There is one other business that received a PPP loan registered to the same address as Losardo General Contractors Inc.

Leviathan Mechanical Corp
Plumbing, Heating, and Air-Conditioning Contractors

$292,003 PPP Loan

Similar Companies near Brooklyn

In the Brooklyn area, 86 businesses in the "Residential Remodelers" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 200) and received an average PPP loan of $70,687 (compared to this company's $3.43M).

Industry PPP Comparison Statistics

Nationwide, 166,608 businesses in the "Residential Remodelers" industry received a total of $5.16B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.

PPP recipients in this industry report an average of 3 employees, 99% lower than Losardo General Contractors Inc's reported 200 employees, and received an average PPP loan of $30,994, 99% lower than this company's loan of $3.43M.

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.

Search FederalPay's Full PPP Loan Database

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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Source: www.federalpay.org/paycheck-protection-program/losardo-general-contractors-inc-brooklyn-ny