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

PPP Loan Data — Magellan Concrete Structures 1 Corp, Brooklyn, NY

SBA PPP loan data, payroll data, and salaries for Magellan Concrete Structures 1 Corp
NY

Magellan Concrete Structures 1 Corp

Entity: Subchapter S Corporation

Industry: Poured Concrete Foundation and Structure Contractors

Location: Brooklyn, NY

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:

$2.98M

Jobs Retained:

0 Unreported

Loan Approved:

2020-04-29

Lender:

CAPITAL ONE, NATIONAL ASSOCIATION

Magellan 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.

Because the loan received by Magellan Concrete Structures 1 Corp 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 - Magellan Concrete Structures 1 Corp in Brooklyn, NY

Magellan Concrete Structures 1 Corp
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-09

Similar 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).

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.

Search FederalPay's Full PPP Loan Database

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/magellan-concrete-structures-1-corp-brooklyn-ny