PPP Loan Data — Tanglewood Doors, Inc, Pine Hill, NY
Tanglewood Doors, Inc is a corporation located at 260 Main St, Po Box 472 in Pine Hill, New York that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least three people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:New York Business Development Corporation
Tanglewood Doors, Inc in Pine Hill, NY received a Paycheck Protection Loan of $25,000 through New York Business Development 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 May, 2021.
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, Tanglewood Doors, Inc's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Tanglewood Doors, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Tanglewood Doors, Inc in Pine Hill, NY
260 Main St, Po Box 472
Pine Hill, NY 12465
Finish Carpentry Contractors
NAICS code 238350
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 28,703 businesses in the "Finish Carpentry Contractors" industry received a total of $1.11B 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 4 employees, 33% higher than Tanglewood Doors, Inc's reported 3 employees, and received an average PPP loan of $38,555, 54% higher than this company's loan of $25,000.
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Footnotes & Information
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