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PPP Loan Data — Mayrich Construction Corp,
Bronx, NY
Mayrich Construction Corp
Entity: Corporation
Industry: Commercial and Institutional Building Construction
Location: Bronx, NY
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Mayrich Construction Corp is a corporation located at 1141 Oakpoint Ave in Bronx, New York that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in January, 2021.
$
PPP Loan Information
Loan #9704718306
Loan Size:
Jobs Retained:
73Loan Approved:
2021-01-31Loan Status:
Ongoing LoanLender:
Bank of America, National AssociationMayrich Construction Corp in Bronx, NY received a Paycheck Protection Loan of $2M through Bank of America, National Association, which was approved in January, 2021.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 73 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 96. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
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, Mayrich Construction Corp's 2019 payroll expenses are estimated to be at least $9.6M (not accounting for salary amounts > $100k).
Because the 73 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, Mayrich Construction Corp reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,998
- Utilities: $1
Business Information - Mayrich Construction Corp in Bronx, NY
1141 Oakpoint Ave
Bronx, NY 10474
Business Industry:
Commercial and Institutional Building Construction
NAICS code 236220
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: Y
Rural / Urban: Urban
Similar Companies near Bronx
In the Bronx area, 29 businesses in the "Commercial and Institutional Building Construction" industry received a PPP loan. These local businesses reported an average of 18 employees (compared to this company's 73) and received an average PPP loan of $215,027 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Davon Rock
Bronx, NY
Richard Russell
Bronx, NY
Fairmont Construction Management LLC
Bronx, NY
Anthony Paulino
Bronx, NY
Maurice Hamilton
Bronx, NY
Tiffany Marion
Bronx, NY
Fran-Co Remodeling Corp
Bronx, NY
Republic Scaffold & Hoist Corp
Bronx, NY
Northeast Restoration Corp
Bronx, NY
Industry PPP Comparison Statistics
Nationwide, 77,396 businesses in the "Commercial and Institutional Building Construction" industry received a total of $12.37B 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 12 employees, 84% lower than Mayrich Construction Corp's reported 73 employees, and received an average PPP loan of $159,889, 92% lower than this company's loan of $2M.
Mayrich Construction Corp
Entity: Corporation
Industry: Site Preparation Contractors
Location: Bronx, NY
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Mayrich Construction Corp is a corporation located at 1141 Oak Point Ave in Bronx, New York that received a Coronavirus-related PPP loan from the SBA of $2,582,877.00 in April, 2020.
$
PPP Loan Information
Loan #6055577202
Loan Size:
Jobs Retained:
136Loan Approved:
2020-04-27Loan Status:
Paid in Full or ForgivenLender:
Bank of America, National AssociationMayrich Construction Corp in Bronx, NY received a Paycheck Protection Loan of $2.58M through Bank of America, National Association, which was approved in April, 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 July, 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, Mayrich Construction Corp's 2019 payroll expenses are estimated to be at least $12.4M.
Based on their reported 136 jobs retained, this equals an estimated average yearly compensation of $91,160 per employee1
Reported PPP Proceed Usage:
On the PPP application, Mayrich Construction Corp reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,582,877
Business Information - Mayrich Construction Corp in Bronx, NY
1141 Oak Point Ave
Bronx, NY 10474
Business Industry:
Site Preparation Contractors
NAICS code 238910
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age:
LMI Zone: Y
HUBZone: Y
Rural / Urban: Urban
Similar Companies near Bronx
In the Bronx area, 8 businesses in the "Site Preparation Contractors" industry received a PPP loan. These local businesses reported an average of 28 employees (compared to this company's 136) and received an average PPP loan of $426,944 (compared to this company's $2.58M).
Similar Nearby Businesses Who Received PPP Funding:
Mellifont Construction
Bronx, NY
Earth Group Inc
Bronx, NY
Imperiex Construction Inc
Bronx, NY
Dpltech Corp
Bronx, NY
NY Signature Interiors LLC
Bronx, NY
Signature Interior Demolition Inc
Bronx, NY
Rigging Consultants, Inc
Bronx, NY
Industry PPP Comparison Statistics
Nationwide, 30,777 businesses in the "Site Preparation Contractors" industry received a total of $4.3B 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 12 employees, 91% lower than Mayrich Construction Corp's reported 136 employees, and received an average PPP loan of $139,838, 95% lower than this company's loan of $2.58M.
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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