PPP Loan Data — Armed Services Of Ymca Of USA, Woodbridge, VA
Armed Services Of Ymca Of USA is a professional association located at 14040 Central Loop in Woodbridge, Virginia that received a Coronavirus-related PPP loan from the SBA of $2,168,502.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Truist Bank d/b/a Branch Banking & Trust Co
Armed Services Of Ymca Of USA in Woodbridge, VA received a Paycheck Protection Loan of $2.17M through Truist Bank d/b/a Branch Banking & Trust Co, 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
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, Armed Services Of Ymca Of USA's 2019 payroll expenses are estimated to be at least $10.41M.
Based on their reported 443 jobs retained, this equals an estimated average yearly compensation of $23,496 per employee1
Reported PPP Proceed Usage:
On the PPP application, Armed Services Of Ymca Of USA reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,168,502
Business Information - Armed Services Of Ymca Of USA in Woodbridge, VA
14040 Central Loop
Woodbridge, VA 22193
Civic and Social Organizations
NAICS code 813410
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Woodbridge
In the Woodbridge area, 6 businesses in the "Civic and Social Organizations" industry received a PPP loan. These local businesses reported an average of 126 employees (compared to this company's 443) and received an average PPP loan of $723,102 (compared to this company's $2.17M).
Similar Nearby Businesses Who Received PPP Funding:
The House Inc
The Armed Services Ymca Of The USA
Literacy Volunteers Of America - Prince William, Inc
Hope Floats Foundation Inc
Semper K9 Assistance Dogs
Industry PPP Comparison Statistics
Nationwide, 18,550 businesses in the "Civic and Social Organizations" industry received a total of $2.6B 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 20 employees, 95% lower than Armed Services Of Ymca Of USA's reported 443 employees, and received an average PPP loan of $140,085, 94% lower than this company's loan of $2.17M.
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Footnotes & Information
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