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PPP Loan Data — Pinnacle Industries II, LLC,
Harrison, NY
Pinnacle Industries II, LLC
Entity: Limited Liability Company (LLC)
Industry: Commercial and Institutional Building Construction
Location: Harrison, NY
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Pinnacle Industries II, LLC is a limited liability company (LLC) located at 260 Park Avenue in Harrison, New York that received a Coronavirus-related PPP loan from the SBA of $7,576,217.00 in April, 2020.
The company has reported itself as a White owned business, and employed at least 333 people during the applicable loan loan period.
$ PPP Loan Information
Loan Size:
Jobs Retained:
333Loan Approved:
2020-04-15Lender:
JPMORGAN CHASE BANK, NATIONAL ASSOCIATIONPinnacle Industries II, LLC received a Paycheck Protection Loan of $7.58M through JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 333 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.
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 364.
Based on standard PPP eligibility rules, Pinnacle Industries II, LLC's total 2019 payroll expenses were approximately $36.37M (not accounting for salary amounts > $100k) in order to qualify for the PPP loan amount received.
Because the 333 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Business Information - Pinnacle Industries II, LLC in Harrison, NY
260 Park Avenue
Harrison, NY 10528
Business Industry
Commercial and Institutional Building Construction (NAICS code 236220)
Business Owner Demographics
Race / Ethnicity: WHITE
Gender: Unreported
Veteran Status: Unreported
Congressional District: NY-17Similar Companies near Harrison
In the Harrison area, 7 businesses in the "Commercial and Institutional Building Construction" industry received a PPP loan. These local businesses reported an average of 61 employees (compared to this company's 333) and received an average PPP loan of $1,191,552 (compared to this company's $7.58M).
Similar Nearby Businesses Who Received PPP Funding:
Icon Contracting Group Inc
Harrison, NY
Meldrum Contracting Inc
Harrison, NY
Practical Appraising And Consulting Corp.
Harrison, NY
P Hegarty Building Contractors Inc
Harrison, NY
Rombouts Ave LLC
Harrison, NY
Partinico Corp
Harrison, NY
Industry PPP Comparison Statistics
Nationwide, 39,925 businesses in the "Commercial and Institutional Building Construction" industry received a total of $8,114,153,480.00 in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 13 employees, 96% lower than Pinnacle Industries II, LLC's reported 333 employees, and received an average PPP loan of $203,235, 97% lower than this company's loan of $7.58M.
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.
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.
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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