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PPP Loan Data — SPA City Handyman LLC, Gansevoort, NY

SBA PPP loan data, payroll data, and salaries for SPA City Handyman LLC
NY

SPA City Handyman LLC

Entity: Limited Liability Company (LLC)

Industry: New Single-Family Housing Construction (except For-Sale Builders)

Location: Gansevoort, NY

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SPA City Handyman LLC is a limited liability company (LLC) located at 10 Carefree Lane in Gansevoort, New York that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.

$ PPP Loan Information
Loan #4404847309

Loan Size:

$25,000

Jobs Retained:

2

Loan Approved:

2020-04-29

Loan Status:

Paid in Full or Forgiven

Lender:

Celtic Bank Corporation

SPA City Handyman LLC in Gansevoort, NY received a Paycheck Protection Loan of $25,000 through Celtic Bank Corporation, which was approved in April, 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 June, 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, SPA City Handyman LLC's 2019 payroll expenses are estimated to be at least $120,000.

Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,000 per employee1

Reported PPP Proceed Usage:

On the PPP application, SPA City Handyman LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $25,000

Business Information - SPA City Handyman LLC in Gansevoort, NY

SPA City Handyman LLC
10 Carefree Lane
Gansevoort, NY 12831

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: Rural

Saratoga County, NY — SBA Office 0248 — Congressional District: NY-21

Similar Companies near Gansevoort

In the Gansevoort area, 7 businesses in the "New Single-Family Housing Construction (except For-Sale Builders)" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 2) and received an average PPP loan of $23,790 (compared to this company's $25,000).

Industry PPP Comparison Statistics

Nationwide, 127,156 businesses in the "New Single-Family Housing Construction (except For-Sale Builders)" industry received a total of $5.75B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.

PPP recipients in this industry report an average of 5 employees, 150% higher than SPA City Handyman LLC's reported 2 employees, and received an average PPP loan of $45,182, 81% higher than this company's loan of $25,000.

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/spa-city-handyman-llc-gansevoort-ny