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PPP Loan Data — B'above Worldwide Institute, Inc, Richmond Hill, NY

SBA PPP loan data, payroll data, and salaries for B'above Worldwide Institute, Inc
NY Nonprofit Organization

B'above Worldwide Institute, Inc

Entity: Non-profit Organization

Industry: Child Day Care Services

Location: Richmond Hill, NY

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B'above Worldwide Institute, Inc is a non-profit organization located at 134-11 Kew Gardens Road 2nd Floor in Richmond Hill, New York that received a Coronavirus-related PPP loan from the SBA of $1,809,891.00 in April, 2020.

$ PPP Loan Information
Loan #4993307308

Loan Size:

$1.81M

Jobs Retained:

325

Loan Approved:

2020-04-30

Loan Status:

Ongoing Loan

Lender:

Cross River Bank

B'above Worldwide Institute, Inc in Richmond Hill, NY received a Paycheck Protection Loan of $1.81M through Cross River 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, B'above Worldwide Institute, Inc's 2019 payroll expenses are estimated to be at least $8.69M.

Based on their reported 325 jobs retained, this equals an estimated average yearly compensation of $26,731 per employee1

Reported PPP Proceed Usage:

On the PPP application, B'above Worldwide Institute, Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,809,891

Business Information - B'above Worldwide Institute, Inc in Richmond Hill, NY

B'above Worldwide Institute, Inc
134-11 Kew Gardens Road 2nd Floor
Richmond Hill, NY 11418

Business Industry:
Child Day Care Services
NAICS code 624410

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age:

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Queens County, NY — SBA Office 0202 — Congressional District: NY-05

Similar Companies near Richmond Hill

In the Richmond Hill area, 22 businesses in the "Child Day Care Services" industry received a PPP loan. These local businesses reported an average of 19 employees (compared to this company's 325) and received an average PPP loan of $114,558 (compared to this company's $1.81M).

Industry PPP Comparison Statistics

Nationwide, 132,794 businesses in the "Child Day Care Services" industry received a total of $5.53B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.

PPP recipients in this industry report an average of 8 employees, 98% lower than B'above Worldwide Institute, Inc's reported 325 employees, and received an average PPP loan of $41,676, 98% lower than this company's loan of $1.81M.

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.

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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/babove-worldwide-institute-inc-richmond-hill-ny