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PPP Loan Data — Maxons Restorations Inc,
New York, NY
Maxons Restorations Inc
Entity: Subchapter S Corporation
Industry: All Other Specialty Trade Contractors
Location: New York, NY
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Maxons Restorations Inc is a subchapter s corporation located at 280 Madison Ave in New York, New York that received a Coronavirus-related PPP loan from the SBA of $710,487.00 in February, 2021.
The company has reported itself as a male owned business, and employed at least 41 people during the applicable loan loan period.
$
PPP Loan Information
Loan #2388228503
Loan Size:
Jobs Retained:
41Loan Approved:
2021-02-20Loan Status:
Paid in Full or ForgivenLender:
Capital One, National AssociationMaxons Restorations Inc in New York, NY received a Paycheck Protection Loan of $710,487 through Capital One, National Association, which was approved in February, 2021.
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 July, 2022.
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 MoreUnderstanding 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 MoreBased 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, Maxons Restorations Inc's 2019 payroll expenses are estimated to be at least $3.41M.
Based on their reported 41 jobs retained, this equals an estimated average yearly compensation of $83,179 per employee1
Reported PPP Proceed Usage:
On the PPP application, Maxons Restorations Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $710,487
Business Information - Maxons Restorations Inc in New York, NY
280 Madison Ave
New York, NY 10016
Business Industry:
All Other Specialty Trade Contractors
NAICS code 238990
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Businesses Using Same Address:
There are 6 other businesses that received a PPP loan registered to the same address as Maxons Restorations Inc.
Slim Script Inc
Cosmetics, Beauty Supplies, and Perfume Stores
Beth Franzese
All Other Personal Services
New York Executive Office
Telephone Answering Services
Elyse Hart
Offices of Physicians (except Mental Health Specialists)
Corporate Computers Inc
Electronics Stores
Lester Caesar
Offices of Certified Public Accountants
Similar Companies near New York
In the New York area, 18 businesses in the "All Other Specialty Trade Contractors" industry received a PPP loan. These local businesses reported an average of 48 employees (compared to this company's 41) and received an average PPP loan of $915,887 (compared to this company's $710,487).
Similar Nearby Businesses Who Received PPP Funding:
Navillus Tile Inc
New York, NY
Wood Touch Solutions Inc
New York, NY
Visionary Building Corp
New York, NY
Tedeschi USA, LLC
New York, NY
Dunlop Access Systems LLC
New York, NY
D&X Renovation Corp
New York, NY
Aspiro Renovations LLC
New York, NY
Advance Environmental Co
New York, NY
Industry PPP Comparison Statistics
Nationwide, 92,272 businesses in the "All Other Specialty Trade Contractors" industry received a total of $8.02B 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 8 employees, 80% lower than Maxons Restorations Inc's reported 41 employees, and received an average PPP loan of $86,937, 88% lower than this company's loan of $710,487.
Maxons Restorations Inc
Entity: Subchapter S Corporation
Industry: All Other Specialty Trade Contractors
Location: New York, NY
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Search All PPP Data
Maxons Restorations Inc is a subchapter s corporation located at 280 Madison Avenue in New York, New York that received a Coronavirus-related PPP loan from the SBA of $651,600.00 in June, 2020.
The company has reported itself as a male owned business, and employed at least 41 people during the applicable loan loan period.
$
PPP Loan Information
Loan #7450967805
Loan Size:
Jobs Retained:
41Loan Approved:
2020-06-03Loan Status:
Paid in Full or ForgivenLender:
Capital One, National AssociationMaxons Restorations Inc in New York, NY received a Paycheck Protection Loan of $651,600 through Capital One, National Association, which was approved in June, 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 September, 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 MoreUnderstanding 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 MoreBased 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, Maxons Restorations Inc's 2019 payroll expenses are estimated to be at least $3.13M.
Based on their reported 41 jobs retained, this equals an estimated average yearly compensation of $76,285 per employee1
Reported PPP Proceed Usage:
On the PPP application, Maxons Restorations Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $651,600
Business Information - Maxons Restorations Inc in New York, NY
280 Madison Avenue
New York, NY 10016
Business Industry:
All Other Specialty Trade Contractors
NAICS code 238990
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Businesses Using Same Address:
There are 5 other businesses that received a PPP loan registered to the same address as Maxons Restorations Inc.
Wyse Acupuncture
All Other Outpatient Care Centers
Jarrett Gaymon
All Other Publishers
Pamela S. Topper Lcsw
Offices of Mental Health Practitioners (except Physicians)
Netupstarts, Inc
All Other Telecommunications
Guardian Building Services
All Other Personal Services
Similar Companies near New York
In the New York area, 18 businesses in the "All Other Specialty Trade Contractors" industry received a PPP loan. These local businesses reported an average of 48 employees (compared to this company's 41) and received an average PPP loan of $915,887 (compared to this company's $651,600).
Similar Nearby Businesses Who Received PPP Funding:
Navillus Tile Inc
New York, NY
Wood Touch Solutions Inc
New York, NY
Visionary Building Corp
New York, NY
Tedeschi USA, LLC
New York, NY
Dunlop Access Systems LLC
New York, NY
D&X Renovation Corp
New York, NY
Aspiro Renovations LLC
New York, NY
Advance Environmental Co
New York, NY
Industry PPP Comparison Statistics
Nationwide, 92,272 businesses in the "All Other Specialty Trade Contractors" industry received a total of $8.02B 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 8 employees, 80% lower than Maxons Restorations Inc's reported 41 employees, and received an average PPP loan of $86,937, 87% lower than this company's loan of $651,600.
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.
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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