PPP Loan Data — Major Jewelers Purchasing & MFG Co Inc, Albertson, NY
Major Jewelers Purchasing & MFG Co Inc is a subchapter s corporation located at 960 Willis Ave in Albertson, New York that received a Coronavirus-related PPP loan from the SBA of $46,057.00 in January, 2021.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:People's United Bank, National Association
Major Jewelers Purchasing & MFG Co Inc in Albertson, NY received a Paycheck Protection Loan of $46,057 through People's United Bank, National Association, which was approved in January, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
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, Major Jewelers Purchasing & MFG Co Inc's 2019 payroll expenses are estimated to be at least $221,074.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $73,691 per employee1
Reported PPP Proceed Usage:
On the PPP application, Major Jewelers Purchasing & MFG Co Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,055
- Utilities: $1
Business Information - Major Jewelers Purchasing & MFG Co Inc in Albertson, NY
960 Willis Ave
Albertson, NY 11507
Jewelry and Silverware Manufacturing
NAICS code 339910
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Albertson
In the Albertson area, 2 businesses in the "Jewelry and Silverware Manufacturing" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 3) and received an average PPP loan of $46,079 (compared to this company's $46,057).
Similar Nearby Businesses Who Received PPP Funding:
Major Jewelers Purchasing & Manufacturing Co. Inc
Industry PPP Comparison Statistics
Nationwide, 5,673 businesses in the "Jewelry and Silverware Manufacturing" industry received a total of $278.77M 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 5 employees, 67% higher than Major Jewelers Purchasing & MFG Co Inc's reported 3 employees, and received an average PPP loan of $49,140, 7% higher than this company's loan of $46,057.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!