PPP Loan Data — Staffworks, Inc, New Hartford, NY
Staffworks, Inc is a subchapter s corporation located at 600 French Road in New Hartford, New York that received a Coronavirus-related PPP loan from the SBA of $4,358,800.00 in April, 2020.
$ PPP Loan Information
Lender:MANUFACTURERS AND TRADERS TRUST COMPANY
Staffworks, Inc received a Paycheck Protection Loan of $4.36M through MANUFACTURERS AND TRADERS TRUST COMPANY, which was approved in April, 2020.
Based on standard PPP eligibility rules, Staffworks, Inc's total 2019 payroll expenses were approximately $20.92M in order to qualify for the PPP loan amount received.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $41,844 per employee1.
Business Information - Staffworks, Inc in New Hartford, NY
600 French Road
New Hartford, NY 13413
Employment Placement Agencies (NAICS code 561311)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: NY-22
Similar Companies near New Hartford
In the New Hartford area, 2 businesses in the "Employment Placement Agencies" industry received a PPP loan. These local businesses reported an average of 251 employees (compared to this company's 500) and received an average PPP loan of $2,181,450 (compared to this company's $4.36M).
Similar Nearby Businesses Who Received PPP Funding:
Campanna Of Oneida, Inc
New Hartford, NY
Industry PPP Comparison Statistics
Nationwide, 7,294 businesses in the "Employment Placement Agencies" industry received a total of $2,648,453,106.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 38 employees, 92% lower than Staffworks, Inc's reported 500 employees, and received an average PPP loan of $363,100, 92% lower than this company's loan of $4.36M.
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.
Footnotes & Information
1. 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.
Have FederalPay.org's open data tools been valuable? Consider donating!