PPP Loan Data — New York Construction & Renovation, Inc, Brooklyn, NY
New York Construction & Renovation, Inc
Entity: Subchapter S Corporation
Location: Brooklyn, NYTweet This • Search All PPP Data
New York Construction & Renovation, Inc is a subchapter s corporation located at 992 Coney Island Avenue in Brooklyn, New York that received a Coronavirus-related PPP loan from the SBA of $46,487.00 in June, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Cross River Bank
New York Construction & Renovation, Inc in Brooklyn, NY received a Paycheck Protection Loan of $46,487 through Cross River Bank, which was approved in June, 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, New York Construction & Renovation, Inc's 2019 payroll expenses are estimated to be at least $223,138.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $37,190 per employee1
Reported PPP Proceed Usage:
On the PPP application, New York Construction & Renovation, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,487
Business Information - New York Construction & Renovation, Inc in Brooklyn, NY
992 Coney Island Avenue
Brooklyn, NY 11230
New Single-Family Housing Construction (except For-Sale Builders)
NAICS code 236115
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Brooklyn
In the Brooklyn area, 68 businesses in the "New Single-Family Housing Construction (except For-Sale Builders)" industry received a PPP loan. These local businesses reported an average of 9 employees (compared to this company's 6) and received an average PPP loan of $53,233 (compared to this company's $46,487).
Similar Nearby Businesses Who Received PPP Funding:
ACE HVAC Service Inc
Amsterdam Contracting Corp
Downtown Complete Construction Corp-Sba Small 7A Term
Mohammad Iqbal Raja
Redu NYC LLC
Big A Construction Group Inc
Carisma Construction Inc
Breuckelen Construction Group Inc
Industry PPP Comparison Statistics
Nationwide, 127,156 businesses in the "New Single-Family Housing Construction (except For-Sale Builders)" industry received a total of $5.75B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 5 employees, 17% lower than New York Construction & Renovation, Inc's reported 6 employees, and received an average PPP loan of $45,182, 3% lower than this company's loan of $46,487.
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Footnotes & Information
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