PPP Loan Data — Susan Cohen Design, Amagandett, NY
Susan Cohen Design is a sole proprietorship located in Amagandett, New York that received a Coronavirus-related PPP loan from the SBA of $25,400.00 in August, 2020.
The company has reported itself as a White female owned business, and employed at least one person during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bank of America, National Association
Susan Cohen Design in Amagandett, NY received a Paycheck Protection Loan of $25,400 through Bank of America, National Association, which was approved in August, 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.The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 1 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 1. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
Reported PPP Proceed Usage:
On the PPP application, Susan Cohen Design reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,400
Business Information - Susan Cohen Design in Amagandett, NY
* Full address is redacted to protect the privacy of individuals.
NAICS code 561730
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Amagandett
In the Amagandett area, 9 businesses in the "Landscaping Services" industry received a PPP loan. These local businesses reported an average of 13 employees (compared to this company's 1) and received an average PPP loan of $135,309 (compared to this company's $25,400).
Similar Nearby Businesses Who Received PPP Funding:
Verderber's Garden Center Inc
Camp Property Maintenance, Inc
Verderber's Landscape Nursery Inc
Industry PPP Comparison Statistics
Nationwide, 138,585 businesses in the "Landscaping Services" industry received a total of $6.03B 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, 400% higher than Susan Cohen Design's reported 1 employees, and received an average PPP loan of $43,486, 71% higher than this company's loan of $25,400.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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