PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Salchow & Sons Bowmakers LLC, New York, NY

ALERT: There are 2 PPP loans for a total of $184,785 in our database for businesses with the name "Salchow & Sons Bowmakers LLC" in New York, NY. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Salchow & Sons Bowmakers LLC
NY

Salchow & Sons Bowmakers LLC

Entity: Subchapter S Corporation

Industry: Musical Instrument and Supplies Stores

Location: New York, NY

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Salchow & Sons Bowmakers LLC is a subchapter s corporation located at 119 W 57th St Ste 1414 in New York, New York that received a Coronavirus-related PPP loan from the SBA of $92,395.00 in February, 2021.

$ PPP Loan Information
Loan #6149058403

Loan Size:

$92,395

Jobs Retained:

6

Loan Approved:

2021-02-10

Loan Status:

Paid in Full or Forgiven

Lender:

JPMorgan Chase Bank, National Association

Salchow & Sons Bowmakers LLC in New York, NY received a Paycheck Protection Loan of $92,395 through JPMorgan Chase Bank, National Association, which was approved in February, 2021.

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 November, 2021.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Salchow & Sons Bowmakers LLC's 2019 payroll expenses are estimated to be at least $443,496.

Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $73,916 per employee1

Reported PPP Proceed Usage:

On the PPP application, Salchow & Sons Bowmakers LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $92,393
  • Utilities: $1

Business Information - Salchow & Sons Bowmakers LLC in New York, NY

Salchow & Sons Bowmakers LLC
119 W 57th St Ste 1414
New York, NY 10019

Business Industry:
Musical Instrument and Supplies Stores
NAICS code 451140

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

New York County, NY — SBA Office 0202 — Congressional District: NY-12

Similar Companies near New York

In the New York area, 7 businesses in the "Musical Instrument and Supplies Stores" industry received a PPP loan. These local businesses reported an average of 19 employees (compared to this company's 6) and received an average PPP loan of $86,074 (compared to this company's $92,395).

Industry PPP Comparison Statistics

Nationwide, 4,382 businesses in the "Musical Instrument and Supplies Stores" industry received a total of $235.21M 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 8 employees, 33% higher than Salchow & Sons Bowmakers LLC's reported 6 employees, and received an average PPP loan of $53,676, 42% lower than this company's loan of $92,395.

SBA PPP loan data, payroll data, and salaries for Salchow & Sons Bowmakers LLC
NY

Salchow & Sons Bowmakers LLC

Entity: Subchapter S Corporation

Industry: Unclassified Establishments

Location: New York, NY

Search All PPP Data

Salchow & Sons Bowmakers LLC is a subchapter s corporation located at 119 W 57th St Suite 1414 in New York, New York that received a Coronavirus-related PPP loan from the SBA of $92,390.00 in May, 2020.

$ PPP Loan Information
Loan #2845237702

Loan Size:

$92,390

Jobs Retained:

7

Loan Approved:

2020-05-01

Loan Status:

Paid in Full or Forgiven

Lender:

JPMorgan Chase Bank, National Association

Salchow & Sons Bowmakers LLC in New York, NY received a Paycheck Protection Loan of $92,390 through JPMorgan Chase Bank, National Association, which was approved in May, 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

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Salchow & Sons Bowmakers LLC's 2019 payroll expenses are estimated to be at least $443,472.

Based on their reported 7 jobs retained, this equals an estimated average yearly compensation of $63,353 per employee1

Reported PPP Proceed Usage:

On the PPP application, Salchow & Sons Bowmakers LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $66,618
  • Rent: $18,258
  • Health Care: $7,514

Business Information - Salchow & Sons Bowmakers LLC in New York, NY

Salchow & Sons Bowmakers LLC
119 W 57th St Suite 1414
New York, NY 10019

Business Industry:
Unclassified Establishments
NAICS code 999990

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

New York County, NY — SBA Office 0202 — Congressional District: NY-10

Similar Companies near New York

In the New York area, 173 businesses in the "Unclassified Establishments" industry received a PPP loan. These local businesses reported an average of 25 employees (compared to this company's 7) and received an average PPP loan of $98,812 (compared to this company's $92,390).

Industry PPP Comparison Statistics

Nationwide, 85,578 businesses in the "Unclassified Establishments" industry received a total of $3.67B 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 10 employees, 43% higher than Salchow & Sons Bowmakers LLC's reported 7 employees, and received an average PPP loan of $42,861, 54% lower than this company's loan of $92,390.

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. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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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Source: www.federalpay.org/paycheck-protection-program/salchow-sons-bowmakers-llc-new-york-ny