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PPP Loan Data — Waldners Business Environments Inc, Farmingdale, NY

ALERT: There are 2 PPP loans for a total of $4M in our database for businesses with the name "Waldners Business Environments Inc" in Farmingdale, 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 Waldners Business Environments Inc
NY

Waldners Business Environments Inc

Entity: Corporation

Industry: Furniture Stores

Location: Farmingdale, NY

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Waldners Business Environments Inc is a corporation located at 125 Broadhollow Rd in Farmingdale, New York that received a Coronavirus-related PPP loan from the SBA of $1,965,928.00 in January, 2021.

$ PPP Loan Information
Loan #9485738300

Loan Size:

$1.97M

Jobs Retained:

79

Loan Approved:

2021-01-30

Loan Status:

Ongoing Loan

Lender:

Loan Source Incorporated
Likely Employment Reduction3

Waldners Business Environments Inc in Farmingdale, NY received a Paycheck Protection Loan of $1.97M through Loan Source Incorporated, which was approved in January, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

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 79 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 94. 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, Waldners Business Environments Inc's 2019 payroll expenses are estimated to be at least $9.44M (not accounting for salary amounts > $100k).

Because the 79 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, Waldners Business Environments Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,965,923
  • Utilities: $1

Business Information - Waldners Business Environments Inc in Farmingdale, NY

Waldners Business Environments Inc
125 Broadhollow Rd
Farmingdale, NY 11735

Business Industry:
Furniture Stores
NAICS code 442110

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

Suffolk County, NY — SBA Office 0235 — Congressional District: NY-02

Similar Companies near Farmingdale

In the Farmingdale area, 19 businesses in the "Furniture Stores" industry received a PPP loan. These local businesses reported an average of 13 employees (compared to this company's 79) and received an average PPP loan of $221,142 (compared to this company's $1.97M).

Industry PPP Comparison Statistics

Nationwide, 16,379 businesses in the "Furniture Stores" industry received a total of $1.53B 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, 87% lower than Waldners Business Environments Inc's reported 79 employees, and received an average PPP loan of $93,282, 95% lower than this company's loan of $1.97M.

SBA PPP loan data, payroll data, and salaries for Waldners Business Environments Inc
NY

Waldners Business Environments Inc

Entity: Corporation

Industry: Office Supplies and Stationery Stores

Location: Farmingdale, NY

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Waldners Business Environments Inc is a corporation located at 125 Route 110 in Farmingdale, New York that received a Coronavirus-related PPP loan from the SBA of $2,037,500.00 in April, 2020.

$ PPP Loan Information
Loan #1954837100

Loan Size:

$2.04M

Jobs Retained:

109

Loan Approved:

2020-04-10

Loan Status:

Ongoing Loan

Lender:

Dime Community Bank

Waldners Business Environments Inc in Farmingdale, NY received a Paycheck Protection Loan of $2.04M through Dime Community Bank, which was approved in April, 2020.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

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, Waldners Business Environments Inc's 2019 payroll expenses are estimated to be at least $9.78M.

Based on their reported 109 jobs retained, this equals an estimated average yearly compensation of $89,725 per employee1

Reported PPP Proceed Usage:

On the PPP application, Waldners Business Environments Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,630,000
  • Rent: $407,500
Because the loan received by Waldners Business Environments 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 - Waldners Business Environments Inc in Farmingdale, NY

Waldners Business Environments Inc
125 Route 110
Farmingdale, NY 11735

Business Industry:
Office Supplies and Stationery Stores
NAICS code 453210

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-02

Similar Companies near Farmingdale

In the Farmingdale area, 2 businesses in the "Office Supplies and Stationery Stores" industry received a PPP loan. These local businesses reported an average of 56 employees (compared to this company's 109) and received an average PPP loan of $1,020,625 (compared to this company's $2.04M).

Similar Nearby Businesses Who Received PPP Funding:

182 Candy Store Inc
Farmingdale, NY

$3,750 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 4,080 businesses in the "Office Supplies and Stationery Stores" industry received a total of $314.03M 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, 92% lower than Waldners Business Environments Inc's reported 109 employees, and received an average PPP loan of $76,968, 96% lower than this company's loan of $2.04M.

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.


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Source: www.federalpay.org/paycheck-protection-program/waldners-business-environments-inc-farmingdale-ny