PPP Loan Data — New York Vending & Amusement, Inc, Roslyn Heights, NY
New York Vending & Amusement, Inc is a corporation located at 200 South Service Rd in Roslyn Heights, New York that received a Coronavirus-related PPP loan from the SBA of $46,792.00 in June, 2020.
The company has reported itself as a male owned business, and employed at least two people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Loan Source Incorporated
New York Vending & Amusement, Inc in Roslyn Heights, NY received a Paycheck Protection Loan of $46,792 through Loan Source Incorporated, which was approved in June, 2020.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 2. 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
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 Vending & Amusement, Inc's 2019 payroll expenses are estimated to be at least $224,602 (not accounting for salary amounts > $100k).
Because the 2 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, New York Vending & Amusement, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,792
Business Information - New York Vending & Amusement, Inc in Roslyn Heights, NY
200 South Service Rd
Roslyn Heights, NY 11577
Vending Machine Operators
NAICS code 454210
Business Owner Demographics
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 5,683 businesses in the "Vending Machine Operators" industry received a total of $306.05M 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 6 employees, 200% higher than New York Vending & Amusement, Inc's reported 2 employees, and received an average PPP loan of $53,853, 15% higher than this company's loan of $46,792.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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