PPP Loan Data — Plant-Tech2O, Inc, Hempstead, NY
Plant-Tech2O, Inc is a corporation located at 30 Chasner St in Hempstead, New York that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:People's United Bank, National Association
Plant-Tech2O, Inc in Hempstead, NY received a Paycheck Protection Loan of $25,000 through People's United Bank, National Association, 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, Plant-Tech2O, Inc's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Plant-Tech2O, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Plant-Tech2O, Inc in Hempstead, NY
30 Chasner St
Hempstead, NY 11550
NAICS code 561730
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Hempstead
In the Hempstead area, 18 businesses in the "Landscaping Services" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 3) and received an average PPP loan of $14,255 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Godson Landscaping & Construction Inc
South Hempstead, NY
Bolanos Landscaping Inc
Industry PPP Comparison Statistics
Nationwide, 138,585 businesses in the "Landscaping Services" industry received a total of $6.03B 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, 67% higher than Plant-Tech2O, Inc's reported 3 employees, and received an average PPP loan of $43,486, 74% higher than this company's loan of $25,000.
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Footnotes & Information
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