PPP Loan Data — Special Materials Company, New York, NY
Special Materials Company
Location: New York, NYTweet This • Search All PPP Data
Special Materials Company is a corporation located at 70 W 40th Street, 2nd Fl in New York, New York that received a Coronavirus-related PPP loan from the SBA of $1,515,000.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:PNC Bank, National Association
Special Materials Company in New York, NY received a Paycheck Protection Loan of $1.52M through PNC Bank, National Association, which was approved in April, 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, Special Materials Company's 2019 payroll expenses are estimated to be at least $7.27M.
Based on their reported 95 jobs retained, this equals an estimated average yearly compensation of $76,547 per employee1
Reported PPP Proceed Usage:
On the PPP application, Special Materials Company reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,515,000
Business Information - Special Materials Company in New York, NY
70 W 40th Street, 2nd Fl
New York, NY 10018
All Other Miscellaneous Chemical Product and Preparation Manufacturing
NAICS code 325998
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Similar Companies near New York
In the New York area, 2 businesses in the "All Other Miscellaneous Chemical Product and Preparation Manufacturing" industry received a PPP loan. These local businesses reported an average of 52 employees (compared to this company's 95) and received an average PPP loan of $858,373 (compared to this company's $1.52M).
Similar Nearby Businesses Who Received PPP Funding:
Schilit Forensics LLC
New York, NY
Industry PPP Comparison Statistics
Nationwide, 1,857 businesses in the "All Other Miscellaneous Chemical Product and Preparation Manufacturing" industry received a total of $411.09M 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, 81% lower than Special Materials Company's reported 95 employees, and received an average PPP loan of $221,373, 85% lower than this company's loan of $1.52M.
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Footnotes & Information
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