PPP Loan Data — PES Engines Inc, Middletown, NY
PES Engines Inc is a subchapter s corporation located at 762 Route 17m in Middletown, New York that received a Coronavirus-related PPP loan from the SBA of $25,270.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least four people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Orange Bank & Trust Company
PES Engines Inc in Middletown, NY received a Paycheck Protection Loan of $25,270 through Orange Bank & Trust Company, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in April, 2021.
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, PES Engines Inc's 2019 payroll expenses are estimated to be at least $121,296.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,324 per employee1
Reported PPP Proceed Usage:
On the PPP application, PES Engines Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,270
Business Information - PES Engines Inc in Middletown, NY
762 Route 17m
Middletown, NY 10940
All Other Automotive Repair and Maintenance
NAICS code 811198
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Middletown
In the Middletown area, 5 businesses in the "All Other Automotive Repair and Maintenance" industry received a PPP loan. These local businesses reported an average of 8 employees (compared to this company's 4) and received an average PPP loan of $71,530 (compared to this company's $25,270).
Similar Nearby Businesses Who Received PPP Funding:
Lothar's Body Shop, Inc.104131
Ricks Auto Repair Inc
Auto Lovers Inc
Industry PPP Comparison Statistics
Nationwide, 17,942 businesses in the "All Other Automotive Repair and Maintenance" industry received a total of $688.12M 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 4 employees, the same amount reported by PES Engines Inc and received an average PPP loan of $38,352, 52% higher than this company's loan of $25,270.
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Footnotes & Information
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