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PPP Loan Data — Mohawk Fine Papers Inc, Cohoes, NY

SBA PPP loan data, payroll data, and salaries for Mohawk Fine Papers Inc
NY

Mohawk Fine Papers Inc

Entity: Limited Liability Company (LLC)

Industry: Paper (except Newsprint) Mills

Location: Cohoes, NY

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Mohawk Fine Papers Inc is a limited liability company (LLC) located at 465 Saratoga Street in Cohoes, New York that received a Coronavirus-related PPP loan from the SBA of $10,000,000.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$10M

Jobs Retained:

500

Loan Approved:

2020-04-14

Lender:

MANUFACTURERS AND TRADERS TRUST COMPANY

Mohawk Fine Papers Inc in Cohoes, NY received a Paycheck Protection Loan of $10M through MANUFACTURERS AND TRADERS TRUST COMPANY, which was approved in April, 2020.

Based on standard PPP eligibility rules, Mohawk Fine Papers Inc's total 2019 payroll expenses were approximately $48M in order to qualify for the PPP loan amount received.

Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $96,000 per employee1.

Because the loan received by Mohawk Fine Papers Inc 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 - Mohawk Fine Papers Inc in Cohoes, NY

Mohawk Fine Papers Inc
465 Saratoga Street
Cohoes, NY 12047

Business Industry

Paper (except Newsprint) Mills (NAICS code 322121)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: NY-20

Industry PPP Comparison Statistics

Nationwide, 218 businesses in the "Paper (except Newsprint) Mills" industry received a total of $83,868,733.00 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 27 employees, 95% lower than Mohawk Fine Papers Inc's reported 500 employees, and received an average PPP loan of $384,719, 96% lower than this company's loan of $10M.

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/mohawk-fine-papers-inc-cohoes-ny