PPP Loan Data — Myplug Inc, Rockville Centre, NY
Entity: Subchapter S Corporation
Location: Rockville Centre, NYTweet This • Search All PPP Data
Myplug Inc is a subchapter s corporation located at 39 Brevoort Place in Rockville Centre, New York that received a Coronavirus-related PPP loan from the SBA of $24,882.00 in April, 2020.
The company has reported itself as a White female owned business, and employed at least two people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Myplug Inc in Rockville Centre, NY received a Paycheck Protection Loan of $24,882 through WebBank, which was approved in April, 2020.
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, Myplug Inc's 2019 payroll expenses are estimated to be at least $119,434.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $59,717 per employee1
Reported PPP Proceed Usage:
On the PPP application, Myplug Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,882
Business Information - Myplug Inc in Rockville Centre, NY
39 Brevoort Place
Rockville Centre, NY 11570
Other Electronic Parts and Equipment Merchant Wholesalers
NAICS code 423690
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Non-Veteran
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 4,801 businesses in the "Other Electronic Parts and Equipment Merchant Wholesalers" industry received a total of $613M 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 11 employees, 450% higher than Myplug Inc's reported 2 employees, and received an average PPP loan of $127,682, 413% higher than this company's loan of $24,882.
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Footnotes & Information
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