PPP Loan Data — Universe Appliance Repairs, Inc, Seaford, NY
Universe Appliance Repairs, Inc
Location: Seaford, NYTweet This • Search All PPP Data
Universe Appliance Repairs, Inc is a corporation located at 3782 Merrick Rd in Seaford, New York that received a Coronavirus-related PPP loan from the SBA of $1,676,200.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 94 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Newtek Small Business Finance, Inc.
Universe Appliance Repairs, Inc in Seaford, NY received a Paycheck Protection Loan of $1.68M through Newtek Small Business Finance, Inc., which was approved in April, 2020.
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, Universe Appliance Repairs, Inc's 2019 payroll expenses are estimated to be at least $8.05M.
Based on their reported 94 jobs retained, this equals an estimated average yearly compensation of $85,593 per employee1
Reported PPP Proceed Usage:
On the PPP application, Universe Appliance Repairs, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,676,200
Business Information - Universe Appliance Repairs, Inc in Seaford, NY
3782 Merrick Rd
Seaford, NY 11783
Plumbing, Heating, and Air-Conditioning Contractors
NAICS code 238220
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Seaford
In the Seaford area, 36 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a PPP loan. These local businesses reported an average of 12 employees (compared to this company's 94) and received an average PPP loan of $138,481 (compared to this company's $1.68M).
Similar Nearby Businesses Who Received PPP Funding:
Dibari Plumbing & Heating
Camco Plumbing & Heating Inc
Perfectly Pitched Plumbing Heating Corp
Combustion Systems & Instruments Inc
BBC Mechanical Inc
ARA Plumbing Corp
NBL Mechanical Inc
Industry PPP Comparison Statistics
Nationwide, 105,811 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a total of $13.07B 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 10 employees, 89% lower than Universe Appliance Repairs, Inc's reported 94 employees, and received an average PPP loan of $123,520, 93% lower than this company's loan of $1.68M.
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