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PPP Loan Data — Poly-Pak Industries Inc., Melville, NY

SBA PPP loan data, payroll data, and salaries for Poly-Pak Industries Inc.
NY

Poly-Pak Industries Inc.

Entity: Corporation

Industry: Paper Bag and Coated and Treated Paper Manufacturing

Location: Melville, NY

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Poly-Pak Industries Inc. is a corporation located at 125 Spagnoli Rd in Melville, New York that received a Coronavirus-related PPP loan from the SBA of $2,647,200.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.65M

Jobs Retained:

274

Loan Approved:

2020-04-15

Lender:

BNB BANK

Poly-Pak Industries Inc. in Melville, NY received a Paycheck Protection Loan of $2.65M through BNB BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Poly-Pak Industries Inc.'s total 2019 payroll expenses were approximately $12.71M in order to qualify for the PPP loan amount received.

Based on their reported 274 jobs retained, this equals an estimated average yearly compensation of $46,374 per employee1.

Because the loan received by Poly-Pak Industries Inc. is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Poly-Pak Industries Inc. in Melville, NY

Poly-Pak Industries Inc.
125 Spagnoli Rd
Melville, NY 11747

Business Industry

Paper Bag and Coated and Treated Paper Manufacturing (NAICS code 322220)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: NY-03

Industry PPP Comparison Statistics

Nationwide, 326 businesses in the "Paper Bag and Coated and Treated Paper Manufacturing" industry received a total of $157,262,979.00 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 38 employees, 86% lower than Poly-Pak Industries Inc.'s reported 274 employees, and received an average PPP loan of $482,402, 82% lower than this company's loan of $2.65M.

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, and is published unmodified, as provided by the SBA.

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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/poly-pak-industries-inc-melville-ny