FederalPay.org
PPP Loan Data — Magellan Concrete Structures 1 Corp,
Brooklyn, NY
Magellan Concrete Structures 1 Corp
Entity: Subchapter S Corporation
Industry: Poured Concrete Foundation and Structure Contractors
Location: Brooklyn, NY
Tweet This
•
Search All PPP Data
Magellan Concrete Structures 1 Corp is a subchapter s corporation located at 233 Powell Street in Brooklyn, New York that received a Coronavirus-related PPP loan from the SBA of $2,982,800.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
0 UnreportedLoan Approved:
2020-04-29Lender:
CAPITAL ONE, NATIONAL ASSOCIATIONMagellan Concrete Structures 1 Corp in Brooklyn, NY received a Paycheck Protection Loan of $2.98M through CAPITAL ONE, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Magellan Concrete Structures 1 Corp's total 2019 payroll expenses were approximately $14.32M in order to qualify for the PPP loan amount received.
Unlike most businesses, Magellan Concrete Structures 1 Corp's PPP data does not report the number of jobs retained by their receipt of the Paycheck Protection Loan (some banks did not release this infomation from their loan applications). Without this data, per-employee payrolls for this company cannot be estimated.
Business Information - Magellan Concrete Structures 1 Corp in Brooklyn, NY
233 Powell Street
Brooklyn, NY 11212
Business Industry
Poured Concrete Foundation and Structure Contractors (NAICS code 238110)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: NY-09Similar Companies near Brooklyn
In the Brooklyn area, 3 businesses in the "Poured Concrete Foundation and Structure Contractors" industry received a PPP loan. These local businesses reported an average of 17 employees (compared to this company's 0) and received an average PPP loan of $1,164,941 (compared to this company's $2.98M).
Similar Nearby Businesses Who Received PPP Funding:
Endeavor Construction Group Corp
Brooklyn, NY
Capital Concrete NY Inc
Brooklyn, NY
Industry PPP Comparison Statistics
Nationwide, 12,254 businesses in the "Poured Concrete Foundation and Structure Contractors" industry received a total of $2,172,253,420.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 14 employees, and received an average PPP loan of $177,269, 94% lower than this company's loan of $2.98M.
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.
Have FederalPay.org's open data tools been valuable? Consider donating!