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PPP Loan Data — Accounting Fulfillment Services, LLC,
New York, NY
Accounting Fulfillment Services, LLC
Entity: Corporation
Industry: Other Accounting Services
Location: New York, NY
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Accounting Fulfillment Services, LLC is a corporation located at 260 Madison Avenue Suite 1001 in New York, New York that received a Coronavirus-related PPP loan from the SBA of $3,341,300.00 in May, 2020.
The company has reported itself as a White male owned business, and employed at least 231 people during the applicable loan loan period.
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PPP Loan Information
Loan #5166057404
Loan Size:
Jobs Retained:
231Loan Approved:
2020-05-11Loan Status:
Ongoing LoanLender:
Loan Source IncorporatedAccounting Fulfillment Services, LLC in New York, NY received a Paycheck Protection Loan of $3.34M through Loan Source Incorporated, which was approved in May, 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 MoreUnderstanding 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 MoreBased 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, Accounting Fulfillment Services, LLC's 2019 payroll expenses are estimated to be at least $16.04M.
Based on their reported 231 jobs retained, this equals an estimated average yearly compensation of $69,430 per employee1
Reported PPP Proceed Usage:
On the PPP application, Accounting Fulfillment Services, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $3,341,300
Business Information - Accounting Fulfillment Services, LLC in New York, NY
260 Madison Avenue Suite 1001
New York, NY 10016
Business Industry:
Other Accounting Services
NAICS code 541219
Business Owner Demographics
Race: White
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age:
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near New York
In the New York area, 49 businesses in the "Other Accounting Services" industry received a PPP loan. These local businesses reported an average of 13 employees (compared to this company's 231) and received an average PPP loan of $164,120 (compared to this company's $3.34M).
Similar Nearby Businesses Who Received PPP Funding:
Geram Consulting LLC
New York, NY
Richard Green
New York, NY
Rich And Bander LLP
New York, NY
Licia Hahn & Co LLC
New York, NY
Horowitz & Ullmann PC
New York, NY
Mary L. Matera
New York, NY
Cowen Search Inc
New York, NY
Tina Huynh LLC
New York, NY
The Holtz Group Inc
New York, NY
Industry PPP Comparison Statistics
Nationwide, 63,711 businesses in the "Other Accounting Services" industry received a total of $2.02B 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 3 employees, 99% lower than Accounting Fulfillment Services, LLC's reported 231 employees, and received an average PPP loan of $31,751, 99% lower than this company's loan of $3.34M.
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.
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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