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

PPP Loan Data — Shen Chai Deli & Grocery Corp, College Point, NY

ALERT: There are 2 PPP loans for a total of $13,166 in our database for businesses with the name "Shen Chai Deli & Grocery Corp" in College Point, 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 Shen Chai Deli & Grocery Corp
NY

Shen Chai Deli & Grocery Corp

Entity: Corporation

Industry: Convenience Stores

Location: College Point, NY

Search All PPP Data

Shen Chai Deli & Grocery Corp is a corporation located at 13207a 14th Ave in College Point, New York that received a Coronavirus-related PPP loan from the SBA of $6,583.00 in February, 2021.

$ PPP Loan Information
Loan #3710568504

Loan Size:

$6,583

Jobs Retained:

4

Loan Approved:

2021-02-24

Loan Status:

Ongoing Loan

Lender:

Cross River Bank

Shen Chai Deli & Grocery Corp in College Point, NY received a Paycheck Protection Loan of $6,583 through Cross River Bank, which was approved in February, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

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, Shen Chai Deli & Grocery Corp's 2019 payroll expenses are estimated to be at least $31,598.

Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $7,900 per employee1

Reported PPP Proceed Usage:

On the PPP application, Shen Chai Deli & Grocery Corp reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $6,581
  • Utilities: $1

Business Information - Shen Chai Deli & Grocery Corp in College Point, NY

Shen Chai Deli & Grocery Corp
13207a 14th Ave
College Point, NY 11356

Business Industry:
Convenience Stores
NAICS code 445120

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

Queens County, NY — SBA Office 0202 — Congressional District: NY-14

Similar Companies near College Point

In the College Point area, 33 businesses in the "Convenience Stores" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 4) and received an average PPP loan of $14,983 (compared to this company's $6,583).

Industry PPP Comparison Statistics

Nationwide, 30,055 businesses in the "Convenience Stores" industry received a total of $856.22M 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 6 employees, 50% higher than Shen Chai Deli & Grocery Corp's reported 4 employees, and received an average PPP loan of $28,488, 333% higher than this company's loan of $6,583.

SBA PPP loan data, payroll data, and salaries for Shen Chai Deli & Grocery Corp
NY

Shen Chai Deli & Grocery Corp

Entity: Corporation

Industry: Supermarkets and Other Grocery (except Convenience) Stores

Location: College Point, NY

Search All PPP Data

Shen Chai Deli & Grocery Corp is a corporation located at 132-07a 14th Avenue in College Point, New York that received a Coronavirus-related PPP loan from the SBA of $6,583.00 in May, 2020.

$ PPP Loan Information
Loan #3104187403

Loan Size:

$6,583

Jobs Retained:

4

Loan Approved:

2020-05-06

Loan Status:

Ongoing Loan

Lender:

Cross River Bank

Shen Chai Deli & Grocery Corp in College Point, NY received a Paycheck Protection Loan of $6,583 through Cross River Bank, which was approved in May, 2020.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

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, Shen Chai Deli & Grocery Corp's 2019 payroll expenses are estimated to be at least $31,598.

Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $7,900 per employee1

Reported PPP Proceed Usage:

On the PPP application, Shen Chai Deli & Grocery Corp reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $6,583

Business Information - Shen Chai Deli & Grocery Corp in College Point, NY

Shen Chai Deli & Grocery Corp
132-07a 14th Avenue
College Point, NY 11356

Business Industry:
Supermarkets and Other Grocery (except Convenience) Stores
NAICS code 445110

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age:

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Queens County, NY — SBA Office 0202 — Congressional District: NY-14

Similar Companies near College Point

In the College Point area, 38 businesses in the "Supermarkets and Other Grocery (except Convenience) Stores" industry received a PPP loan. These local businesses reported an average of 34 employees (compared to this company's 4) and received an average PPP loan of $134,708 (compared to this company's $6,583).

Industry PPP Comparison Statistics

Nationwide, 25,599 businesses in the "Supermarkets and Other Grocery (except Convenience) Stores" industry received a total of $2.27B 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 18 employees, 350% higher than Shen Chai Deli & Grocery Corp's reported 4 employees, and received an average PPP loan of $88,740, 1248% higher than this company's loan of $6,583.

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/shen-chai-deli-grocery-corp-college-point-ny