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PPP Loan Data — M And J Engineering, PC, New Hyde Park, NY

SBA PPP loan data, payroll data, and salaries for M And J Engineering, PC
NY

M And J Engineering, PC

Entity: Corporation

Industry: Engineering Services

Location: New Hyde Park, NY

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M And J Engineering, PC is a corporation located at 2003 Jericho Tpke in New Hyde Park, New York that received a Coronavirus-related PPP loan from the SBA of $4,750,000.00 in April, 2020.

The company has reported itself as a White male owned business, and employed at least 248 people during the applicable loan loan period.

$ PPP Loan Information
Loan #3172057107

Loan Size:

$4.75M

Jobs Retained:

248

Loan Approved:

2020-04-11

Loan Status:

Paid in Full or Forgiven

Lender:

TD Bank, National Association

M And J Engineering, PC in New Hyde Park, NY received a Paycheck Protection Loan of $4.75M through TD Bank, National Association, which was approved in April, 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 August, 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 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, M And J Engineering, PC's 2019 payroll expenses are estimated to be at least $22.8M.

Based on their reported 248 jobs retained, this equals an estimated average yearly compensation of $91,935 per employee1

Reported PPP Proceed Usage:

On the PPP application, M And J Engineering, PC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $4,750,000
Because the loan received by M And J Engineering, PC 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 - M And J Engineering, PC in New Hyde Park, NY

M And J Engineering, PC
2003 Jericho Tpke
New Hyde Park, NY 11040

Business Industry:
Engineering Services
NAICS code 541330

Business Owner Demographics

Race: White

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: New Business or 2 years or less

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Nassau County, NY — SBA Office 0235 — Congressional District: NY-04

Businesses Using Same Address:

There is one other business that received a PPP loan registered to the same address as M And J Engineering, PC.

Levine & Fuchs LLC
Offices of Certified Public Accountants

$95,440 PPP Loan

Similar Companies near New Hyde Park

In the New Hyde Park area, 7 businesses in the "Engineering Services" industry received a PPP loan. These local businesses reported an average of 41 employees (compared to this company's 248) and received an average PPP loan of $761,935 (compared to this company's $4.75M).

Industry PPP Comparison Statistics

Nationwide, 46,579 businesses in the "Engineering Services" industry received a total of $9.17B 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 13 employees, 95% lower than M And J Engineering, PC's reported 248 employees, and received an average PPP loan of $196,935, 96% lower than this company's loan of $4.75M.

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.

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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/m-and-j-engineering-pc-new-hyde-park-ny