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PPP Loan Data — Special Designs Of Jewelry, Inc, Suffern, NY

SBA PPP loan data, payroll data, and salaries for Special Designs Of Jewelry, Inc

Special Designs Of Jewelry, Inc

Entity: Corporation

Industry: Jewelry Stores

Location: Suffern, NY

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Special Designs Of Jewelry, Inc is a corporation located at 16 Indian Rock Plaza Route 59 in Suffern, New York that received a Coronavirus-related PPP loan from the SBA of $25,057.00 in April, 2020.

$ PPP Loan Information
Loan #7874597108

Loan Size:


Jobs Retained:


Loan Approved:


Loan Status:

Paid in Full or Forgiven


Manufacturers and Traders Trust Company

Special Designs Of Jewelry, Inc in Suffern, NY received a Paycheck Protection Loan of $25,057 through Manufacturers and Traders Trust Company, 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 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, Special Designs Of Jewelry, Inc's 2019 payroll expenses are estimated to be at least $120,274.

Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,091 per employee1

Reported PPP Proceed Usage:

On the PPP application, Special Designs Of Jewelry, Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $20,046
  • Utilities: $776
  • Rent: $4,235

Business Information - Special Designs Of Jewelry, Inc in Suffern, NY

Special Designs Of Jewelry, Inc
16 Indian Rock Plaza Route 59
Suffern, NY 10901

Business Industry:
Jewelry Stores
NAICS code 448310

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

Rockland County, NY — SBA Office 0202 — Congressional District: NY-17

Similar Companies near Suffern

In the Suffern area, 2 businesses in the "Jewelry Stores" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 3) and received an average PPP loan of $17,885 (compared to this company's $25,057).

Similar Nearby Businesses Who Received PPP Funding:

Eligere-Mitchell Egenberg
Suffern, NY

$10,712 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 22,187 businesses in the "Jewelry Stores" industry received a total of $956.02M 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 5 employees, 67% higher than Special Designs Of Jewelry, Inc's reported 3 employees, and received an average PPP loan of $43,089, 72% higher than this company's loan of $25,057.

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.

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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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** This Document Provided By - The Civil Employee's Resource **