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PPP Loan Data — On Track Freight Systems Inc, Deer Park, NY

SBA PPP loan data, payroll data, and salaries for On Track Freight Systems Inc
NY

On Track Freight Systems Inc

Entity: Subchapter S Corporation

Industry: General Freight Trucking, Local

Location: Deer Park, NY

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On Track Freight Systems Inc is a subchapter s corporation located at 50 East Jefryn Boulevard in Deer Park, New York that received a Coronavirus-related PPP loan from the SBA of $345,200.00 in April, 2020.

The company has reported itself as a Black or african american male owned business, and employed at least 34 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$345,200

Jobs Retained:

34

Loan Approved:

2020-04-29

Lender:

FINWISE BANK

On Track Freight Systems Inc received a Paycheck Protection Loan of $345,200 through FINWISE BANK, which was approved in April, 2020.

2019 Payroll Estimations based On PPP Amount:

Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 0.

Based on standard PPP eligibility rules, On Track Freight Systems Inc's total 2019 payroll expenses were approximately $1.66M in order to qualify for the PPP loan amount received.

Based on their reported 34 jobs retained, this equals an estimated average yearly compensation of $48,734 per employee1.

Business Information - On Track Freight Systems Inc in Deer Park, NY

On Track Freight Systems Inc
50 East Jefryn Boulevard
Deer Park, NY 11729

Business Industry

General Freight Trucking, Local (NAICS code 484110)

Business Owner Demographics

Race / Ethnicity: BLACK OR AFRICAN AMERICAN

Gender: MALE OWNED

Veteran Status: NON-VETERAN

Congressional District: NY-02

Similar Companies near Deer Park

In the Deer Park area, 13 businesses in the "General Freight Trucking, Local" industry received a PPP loan. These local businesses reported an average of 23 employees (compared to this company's 34) and received an average PPP loan of $329,634 (compared to this company's $345,200).

Industry PPP Comparison Statistics

Nationwide, 63,007 businesses in the "General Freight Trucking, Local" industry received a total of $3,835,780,964.00 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, 85% lower than On Track Freight Systems Inc's reported 34 employees, and received an average PPP loan of $60,879, 82% lower than this company's loan of $345,200.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.

All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/on-track-freight-systems-inc-deer-park-ny