PPP Loan Data — The Burmax Company, Inc, Holtsville, NY
The Burmax Company, Inc is a corporation located at 28 Barretts Avenue in Holtsville, New York that received a Coronavirus-related PPP loan from the SBA of $1,644,065.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Santander Bank, National Association
The Burmax Company, Inc in Holtsville, NY received a Paycheck Protection Loan of $1.64M through Santander Bank, National Association, 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
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, The Burmax Company, Inc's 2019 payroll expenses are estimated to be at least $7.89M.
Based on their reported 140 jobs retained, this equals an estimated average yearly compensation of $56,368 per employee1
Reported PPP Proceed Usage:
On the PPP application, The Burmax Company, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,644,065
Business Information - The Burmax Company, Inc in Holtsville, NY
28 Barretts Avenue
Holtsville, NY 11742
Cosmetics, Beauty Supplies, and Perfume Stores
NAICS code 446120
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Holtsville
In the Holtsville area, 8 businesses in the "Cosmetics, Beauty Supplies, and Perfume Stores" industry received a PPP loan. These local businesses reported an average of 20 employees (compared to this company's 140) and received an average PPP loan of $249,965 (compared to this company's $1.64M).
Similar Nearby Businesses Who Received PPP Funding:
Tracy Dawn Hair Extensions
SG Sales Inc
Breton Enterprises Int LLC
Industry PPP Comparison Statistics
Nationwide, 42,410 businesses in the "Cosmetics, Beauty Supplies, and Perfume Stores" industry received a total of $959.22M 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 3 employees, 98% lower than The Burmax Company, Inc's reported 140 employees, and received an average PPP loan of $22,618, 99% lower than this company's loan of $1.64M.
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Footnotes & Information
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