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PPP Loan Data — Prime Group Holdings And Affiliates, Saratoga Springs, NY

SBA PPP loan data, payroll data, and salaries for Prime Group Holdings And Affiliates
NY

Prime Group Holdings And Affiliates

Entity: Limited Liability Company (LLC)

Industry: Lessors of Miniwarehouses and Self-Storage Units

Location: Saratoga Springs, NY

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Prime Group Holdings And Affiliates is a limited liability company (LLC) located at 85 Railroad Pl in Saratoga Springs, New York that received a Coronavirus-related PPP loan from the SBA of $3,731,000.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.73M

Jobs Retained:

490

Loan Approved:

2020-04-13

Lender:

CONNECTONE BANK

Prime Group Holdings And Affiliates received a Paycheck Protection Loan of $3.73M through CONNECTONE BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Prime Group Holdings And Affiliates' total 2019 payroll expenses were approximately $17.91M in order to qualify for the PPP loan amount received.

Based on their reported 490 jobs retained, this equals an estimated average yearly compensation of $36,549 per employee1.

Because the loan received by Prime Group Holdings And Affiliates 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 - Prime Group Holdings And Affiliates in Saratoga Springs, NY

Prime Group Holdings And Affiliates
85 Railroad Pl
Saratoga Springs, NY 12866

Business Industry

Lessors of Miniwarehouses and Self-Storage Units (NAICS code 531130)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: NY-20

Similar Companies near Saratoga Springs

In the Saratoga Springs area, 2 businesses in the "Lessors of Miniwarehouses and Self-Storage Units" industry received a PPP loan. These local businesses reported an average of 248 employees (compared to this company's 490) and received an average PPP loan of $1,886,700 (compared to this company's $3.73M).

Similar Nearby Businesses Who Received PPP Funding:

Plaza 15 Storage LLC
Saratoga Springs, NY

$42,400 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 3,874 businesses in the "Lessors of Miniwarehouses and Self-Storage Units" industry received a total of $174,784,675.00 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 5 employees, 99% lower than Prime Group Holdings And Affiliates' reported 490 employees, and received an average PPP loan of $45,117, 99% lower than this company's loan of $3.73M.

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.

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/prime-group-holdings-and-affiliates-saratoga-springs-ny