PPP Loan Data — Regency Telecom Inc, Brooklyn, NY
Regency Telecom Inc
Location: Brooklyn, NYTweet This • Search All PPP Data
Regency Telecom Inc is a corporation located at Dept 377 1274 49th St in Brooklyn, New York that received a Coronavirus-related PPP loan from the SBA of $45,833.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Cross River Bank
Regency Telecom Inc in Brooklyn, NY received a Paycheck Protection Loan of $45,833 through Cross River Bank, 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, Regency Telecom Inc's 2019 payroll expenses are estimated to be at least $219,998.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $36,666 per employee1
Reported PPP Proceed Usage:
On the PPP application, Regency Telecom Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $45,833
Business Information - Regency Telecom Inc in Brooklyn, NY
Dept 377 1274 49th St
Brooklyn, NY 11219
Electrical Contractors and Other Wiring Installation Contractors
NAICS code 238210
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Brooklyn
In the Brooklyn area, 64 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a PPP loan. These local businesses reported an average of 18 employees (compared to this company's 6) and received an average PPP loan of $145,312 (compared to this company's $45,833).
Similar Nearby Businesses Who Received PPP Funding:
S&R Electric & Contracting Corp
GB Lighting Corp
Select Electrical Group Inc
BP Electric Corp
Protel Voice Data Security Corp
SK Electronics, Inc
Wire Up Electric Corp
ARC Technical Solutions LLC
L. B. Electric Supply Co. Inc
Industry PPP Comparison Statistics
Nationwide, 82,626 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a total of $11.77B 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 11 employees, 83% higher than Regency Telecom Inc's reported 6 employees, and received an average PPP loan of $142,494, 211% higher than this company's loan of $45,833.
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