PPP Loan Data — Noco LLC, Tonawanda, NY
Noco LLC is a limited liability company (LLC) located at 2440 Sheridan Dr. in Tonawanda, New York that received a Coronavirus-related PPP loan from the SBA of $4,225,000.00 in April, 2020.
$ PPP Loan Information Loan #5746877007
Loan Status:Ongoing Loan
Lender:JPMorgan Chase Bank, National Association
Noco LLC in Tonawanda, NY received a Paycheck Protection Loan of $4.23M through JPMorgan Chase Bank, National Association, 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, Noco LLC's 2019 payroll expenses are estimated to be at least $20.28M.
Based on their reported 254 jobs retained, this equals an estimated average yearly compensation of $79,843 per employee1
Reported PPP Proceed Usage:
On the PPP application, Noco LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $4,225,000
Business Information - Noco LLC in Tonawanda, NY
2440 Sheridan Dr.
Tonawanda, NY 14150
NAICS code 454310
Business Owner Demographics
Veteran Status: Unreported
Business Age: Change of Ownership
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 3,616 businesses in the "Fuel Dealers" industry received a total of $606,868,412.00 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 16 employees, 94% lower than Noco LLC's reported 254 employees, and received an average PPP loan of $167,829, 96% lower than this company's loan of $4.23M.
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Footnotes & Information
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