PPP Loan Data — MTB Escavating LLC, Altamont, NY
MTB Escavating LLC is a limited liability company (LLC) located at 2157 West Old State Rd in Altamont, New York that received a Coronavirus-related PPP loan from the SBA of $46,820.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least four people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:State Empl FCU
MTB Escavating LLC in Altamont, NY received a Paycheck Protection Loan of $46,820 through State Empl FCU, which was approved in April, 2020.
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.
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, MTB Escavating LLC's 2019 payroll expenses are estimated to be at least $224,736.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $56,184 per employee1
Reported PPP Proceed Usage:
On the PPP application, MTB Escavating LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,820
Business Information - MTB Escavating LLC in Altamont, NY
2157 West Old State Rd
Altamont, NY 12009
Site Preparation Contractors
NAICS code 238910
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Altamont
In the Altamont area, 3 businesses in the "Site Preparation Contractors" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 4) and received an average PPP loan of $41,461 (compared to this company's $46,820).
Similar Nearby Businesses Who Received PPP Funding:
Pollard Excavating Inc
Industry PPP Comparison Statistics
Nationwide, 30,927 businesses in the "Site Preparation Contractors" industry received a total of $4.31B 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, 200% higher than MTB Escavating LLC's reported 4 employees, and received an average PPP loan of $139,293, 198% higher than this company's loan of $46,820.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!