PPP Loan Data — Quality Refinishing Solutions Inc, Oceanside, NY
Quality Refinishing Solutions Inc is a corporation located at 160 Irma Dr in Oceanside, New York that received a Coronavirus-related PPP loan from the SBA of $25,155.00 in May, 2020.
The company has reported itself as a White male owned business, and employed at least three people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:JPMorgan Chase Bank, National Association
Quality Refinishing Solutions Inc in Oceanside, NY received a Paycheck Protection Loan of $25,155 through JPMorgan Chase Bank, National Association, which was approved in May, 2020.
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, Quality Refinishing Solutions Inc's 2019 payroll expenses are estimated to be at least $120,744.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,248 per employee1
Reported PPP Proceed Usage:
On the PPP application, Quality Refinishing Solutions Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $23,308
- Health Care: $1,847
Business Information - Quality Refinishing Solutions Inc in Oceanside, NY
160 Irma Dr
Oceanside, NY 11572
All Other Support Services
NAICS code 561990
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 Oceanside
In the Oceanside area, 4 businesses in the "All Other Support Services" industry received a PPP loan. These local businesses reported an average of 9 employees (compared to this company's 3) and received an average PPP loan of $92,022 (compared to this company's $25,155).
Similar Nearby Businesses Who Received PPP Funding:
Grenelefe Recyclers Inc
Industry PPP Comparison Statistics
Nationwide, 33,705 businesses in the "All Other Support Services" industry received a total of $1.71B 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 7 employees, 133% higher than Quality Refinishing Solutions Inc's reported 3 employees, and received an average PPP loan of $50,635, 101% higher than this company's loan of $25,155.
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Footnotes & Information
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