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

Maxons 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.

While this loan has been approved by the Small Business Administration, the lender has not reported to the SBA that the loan funds were disbursed to the borrower. According to SBA records, a total of $710,487 in approved PPP funding has not been disbursed. The loan's status was last updated by the SBA in February, 2021.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

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, 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

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).

Industry PPP Comparison Statistics

Nationwide, 77,580 businesses in the "All Other Specialty Trade Contractors" industry received a total of $7.6B 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 9 employees, 78% lower than Maxons Restorations Inc's reported 41 employees, and received an average PPP loan of $97,996, 86% lower than this company's loan of $710,487.