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

PPP Loan Data — 54 Below LLC, New York, NY

ALERT: There are 2 PPP loans for a total of $1.56M in our database for businesses with the name "54 Below LLC" in New York, 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 54 Below LLC
NY

54 Below LLC

Entity: Limited Liability Company (LLC)

Industry: Theater Companies and Dinner Theaters

Location: New York, NY

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54 Below LLC is a limited liability company (LLC) located at 254 W 54th St Fl 10 in New York, New York that received a Coronavirus-related PPP loan from the SBA of $737,432.00 in March, 2021.

The company has reported itself as a White male owned business, and employed at least 67 people during the applicable loan loan period.

$ PPP Loan Information
Loan #4259308604

Loan Size:

$737,432

Jobs Retained:

67

Loan Approved:

2021-03-18

Loan Status:

Ongoing Loan

Lender:

JPMorgan Chase Bank, National Association

54 Below LLC in New York, NY received a Paycheck Protection Loan of $737,432 through JPMorgan Chase Bank, National Association, which was approved in March, 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.

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, 54 Below LLC's 2019 payroll expenses are estimated to be at least $3.54M.

Based on their reported 67 jobs retained, this equals an estimated average yearly compensation of $52,831 per employee1

Reported PPP Proceed Usage:

On the PPP application, 54 Below LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $737,427
  • Utilities: $1

Business Information - 54 Below LLC in New York, NY

54 Below LLC
254 W 54th St Fl 10
New York, NY 10019

Business Industry:
Theater Companies and Dinner Theaters
NAICS code 711110

Business Owner Demographics

Race: White

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

New York County, NY — SBA Office 0202 — Congressional District: NY-12

Similar Companies near New York

In the New York area, 78 businesses in the "Theater Companies and Dinner Theaters" industry received a PPP loan. These local businesses reported an average of 23 employees (compared to this company's 67) and received an average PPP loan of $203,451 (compared to this company's $737,432).

Industry PPP Comparison Statistics

Nationwide, 6,585 businesses in the "Theater Companies and Dinner Theaters" industry received a total of $649.55M 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 16 employees, 76% lower than 54 Below LLC's reported 67 employees, and received an average PPP loan of $98,641, 87% lower than this company's loan of $737,432.

SBA PPP loan data, payroll data, and salaries for 54 Below LLC
NY

54 Below LLC

Entity: Limited Liability Company (LLC)

Industry: Full-Service Restaurants

Location: New York, NY

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54 Below LLC is a limited liability company (LLC) located at 254 W. 54th Street, 10th Floor 0.0 in New York, New York that received a Coronavirus-related PPP loan from the SBA of $825,500.00 in April, 2020.

The company has reported itself as a White male owned business, and employed at least 66 people during the applicable loan loan period.

$ PPP Loan Information
Loan #2042937108

Loan Size:

$825,500

Jobs Retained:

66

Loan Approved:

2020-04-10

Loan Status:

Ongoing Loan

Lender:

JPMorgan Chase Bank, National Association

54 Below LLC in New York, NY received a Paycheck Protection Loan of $825,500 through JPMorgan Chase Bank, National Association, 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, 54 Below LLC's 2019 payroll expenses are estimated to be at least $3.96M.

Based on their reported 66 jobs retained, this equals an estimated average yearly compensation of $60,036 per employee1

Reported PPP Proceed Usage:

On the PPP application, 54 Below LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $652,500
  • Utilities: $15,000
  • Rent: $126,000
  • Health Care: $32,000

Business Information - 54 Below LLC in New York, NY

54 Below LLC
254 W. 54th Street, 10th Floor 0.0
New York, NY 10019

Business Industry:
Full-Service Restaurants
NAICS code 722511

Business Owner Demographics

Race: White

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

New York County, NY — SBA Office 0202 — Congressional District: NY-12

Similar Companies near New York

In the New York area, 484 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 37 employees (compared to this company's 66) and received an average PPP loan of $344,751 (compared to this company's $825,500).

Industry PPP Comparison Statistics

Nationwide, 328,914 businesses in the "Full-Service Restaurants" industry received a total of $42.6B in PPP loans. These businesses account for 3% of total PPP applications submitted, and received 5% of the total PPP funding allocated.

PPP recipients in this industry report an average of 22 employees, 67% lower than 54 Below LLC's reported 66 employees, and received an average PPP loan of $129,504, 84% lower than this company's loan of $825,500.

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/54-below-llc-new-york-ny