![]() In order to qualify for the PPP loan amount received, Onkar Food Corp's 2019 payroll expenses are estimated to be at least $248,059. On the PPP application, Onkar Food Corp reported intending to use the proceeds of their PPP loan for the following expenses:īusiness Information - Onkar Food Corp in Brooklyn, NYīased 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, Onkar Food Corp's 2019 payroll expenses are estimated to be at least $347,270.īased on their reported 7 jobs retained, this equals an estimated average yearly compensation of $49,610 per employee 1 Reported PPP Proceed Usage: Please Note: Information on estimated payroll and compensation based on PPP rules is provided for informational purposes only.īased 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). Additionally, because this standard calculation is based on the maximum loan eligibility, it will under-estimate payroll costs if the business did not apply for the full amount of loan to which it was entitled based on its 2019 payroll expenses and other variables described above. 204 Smith St, Brooklyn NY 11201 (718) 797-5100 Start an order Kos Kaffe Roasting House.Restaurants near French Louie in Brooklyn Gong Cha - chinese (0.26 mi) Kor Tor Mor - thai (0.3 mi) Clover Club - american (0. Bring your family into French Louie in Brooklyn and allow us to craft memories that will be sure to leave you smiling for weeks. Because salaries for PPP eligibility purposes are capped at $100k, businesses with highly-compensated employees will yield an under-estimation of actual payroll costs. We are in the business of creating memories and smiles.This estimation assumes that the PPP recipient applied for the full amount for which they were eligible, and no other variables affected the loan amount received. Situations may exist in which it may not be accurate to estimate a PPP recipient's payroll expenses based on the amount of PPP loan received. SES - Senior Executive Service Pay Calculatorįor Onkar Food Corp, the calculation used to estimate payroll costs is shown below:.FWS - Federal Wage System Pay Calculator.
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