PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Tritech Communications Inc, Garden City, NY

ALERT: There are 2 PPP loans for a total of $6.13M in our database for businesses with the name "Tritech Communications Inc" in Garden City, NY. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Tritech Communications Inc
NY

Tritech Communications Inc

Entity: Subchapter S Corporation

Industry: Other Computer Related Services

Location: Garden City, NY

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Tritech Communications Inc is a subchapter s corporation located at 625 Locust St Ste 300 in Garden City, New York that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in February, 2021.

$ PPP Loan Information
Loan #1972048502

Loan Size:

$2M

Jobs Retained:

191

Loan Approved:

2021-02-19

Loan Status:

Paid in Full or Forgiven

Lender:

People's United Bank, National Association

Tritech Communications Inc in Garden City, NY received a Paycheck Protection Loan of $2M through People's United Bank, National Association, which was approved in February, 2021.

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 September, 2021.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Tritech Communications Inc's 2019 payroll expenses are estimated to be at least $9.6M.

Based on their reported 191 jobs retained, this equals an estimated average yearly compensation of $50,262 per employee1

Reported PPP Proceed Usage:

On the PPP application, Tritech Communications Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,999,997
  • Utilities: $1
Because the loan received by Tritech Communications Inc is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Tritech Communications Inc in Garden City, NY

Tritech Communications Inc
625 Locust St Ste 300
Garden City, NY 11530

Business Industry:
Other Computer Related Services
NAICS code 541519

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Nassau County, NY — SBA Office 0235 — Congressional District: NY-04

Businesses Using Same Address:

There is one other business that received a PPP loan registered to the same address as Tritech Communications Inc.

Tritech Cabling Systems
Electrical Contractors and Other Wiring Installation Contractors

$1.17M PPP Loan

Similar Companies near Garden City

In the Garden City area, 6 businesses in the "Other Computer Related Services" industry received a PPP loan. These local businesses reported an average of 36 employees (compared to this company's 191) and received an average PPP loan of $390,997 (compared to this company's $2M).

Industry PPP Comparison Statistics

Nationwide, 25,059 businesses in the "Other Computer Related Services" industry received a total of $3.09B 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 9 employees, 95% lower than Tritech Communications Inc's reported 191 employees, and received an average PPP loan of $123,350, 94% lower than this company's loan of $2M.

SBA PPP loan data, payroll data, and salaries for Tritech Communications, Inc
NY

Tritech Communications, Inc

Entity: Subchapter S Corporation

Industry: Electrical Contractors and Other Wiring Installation Contractors

Location: Garden City, NY

Search All PPP Data

Tritech Communications, Inc is a subchapter s corporation located at 625 Locust Street Suite 300 in Garden City, New York that received a Coronavirus-related PPP loan from the SBA of $4,125,400.00 in April, 2020.

$ PPP Loan Information
Loan #5811427009

Loan Size:

$4.13M

Jobs Retained:

185

Loan Approved:

2020-04-06

Loan Status:

Paid in Full or Forgiven

Lender:

People's United Bank, National Association
Likely Employment Reduction3

Tritech Communications, Inc in Garden City, NY received a Paycheck Protection Loan of $4.13M through People's United 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 July, 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 185 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 198. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Tritech Communications, Inc's 2019 payroll expenses are estimated to be at least $19.8M (not accounting for salary amounts > $100k).

Because the 185 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.

Reported PPP Proceed Usage:

On the PPP application, Tritech Communications, Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $4,125,400
Because the loan received by Tritech Communications, Inc is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Tritech Communications, Inc in Garden City, NY

Tritech Communications, Inc
625 Locust Street Suite 300
Garden City, NY 11530

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Nassau County, NY — SBA Office 0235 — Congressional District: NY-04

Businesses Using Same Address:

There is one other business that received a PPP loan registered to the same address as Tritech Communications, Inc.

Tritech Cabling System, Inc
Electrical Contractors and Other Wiring Installation Contractors

$1.17M PPP Loan

Similar Companies near Garden City

In the Garden City area, 9 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a PPP loan. These local businesses reported an average of 57 employees (compared to this company's 185) and received an average PPP loan of $833,501 (compared to this company's $4.13M).

Industry PPP Comparison Statistics

Nationwide, 81,495 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a total of $11.75B 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 11 employees, 94% lower than Tritech Communications, Inc's reported 185 employees, and received an average PPP loan of $144,173, 97% lower than this company's loan of $4.13M.

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. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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.

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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Source: www.federalpay.org/paycheck-protection-program/tritech-communications-inc-garden-city-ny