PPP Loan Data — Barkbox, Inc, New York, NY

Barkbox, Inc

Entity: Corporation

Industry: Electronic Shopping and Mail-Order Houses

Location: New York, NY

Barkbox, Inc is a corporation located at 221 Canal St 2nd Floor in New York, New York that received a Coronavirus-related PPP loan from the SBA of $5,157,400.00 in April, 2020.

$ PPP Loan Information
Loan #6583527104

Loan Size:

$5.16M

Jobs Retained:

340

Loan Approved:

2020-04-14

Loan Status:

Paid in Full or Forgiven

Lender:

Western Alliance Bank

Barkbox, Inc in New York, NY received a Paycheck Protection Loan of $5.16M through Western Alliance Bank, which was approved in April, 2020.

This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in July, 2021.

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.

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.

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, Barkbox, Inc's 2019 payroll expenses are estimated to be at least $24.76M.

Based on their reported 340 jobs retained, this equals an estimated average yearly compensation of $72,810 per employee¹

Reported PPP Proceed Usage:

On the PPP application, Barkbox, Inc reported intending to use the proceeds of their PPP loan for the following expenses:

Payroll: $4,560,000
Rent: $197,400
Health Care: $400,000

Because the loan received by Barkbox, Inc is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Barkbox, Inc in New York, NY

Barkbox, Inc
221 Canal St 2nd Floor
New York, NY 10013

Business Industry:
Electronic Shopping and Mail-Order Houses
NAICS code 454110

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: Y

Rural / Urban: Urban

New York County, NY — SBA Office 0202 — Congressional District: NY-10

Similar Companies near New York

In the New York area, 33 businesses in the "Electronic Shopping and Mail-Order Houses" industry received a PPP loan. These local businesses reported an average of 34 employees (compared to this company's 340) and received an average PPP loan of $483,826 (compared to this company's $5.16M).

Similar Nearby Businesses Who Received PPP Funding:

Sesame, Inc
New York, NY

$375,000 PPP Loan

Hipsilver LLC
New York, NY

$22,835 PPP Loan

Krystel Rodriguez
New York, NY

$9,622 PPP Loan

Jambys, Inc
New York, NY

$21,474 PPP Loan

Sea-NYcom Inc
New York, NY

$15,392 PPP Loan

Plant People, Inc
New York, NY

$166,929 PPP Loan

Sign Buddy Inc
New York, NY

$5,150 PPP Loan

Jason Gomez
New York, NY

$783 PPP Loan

Brand Value Growth LLC
New York, NY

$216,765 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 21,758 businesses in the "Electronic Shopping and Mail-Order Houses" industry received a total of $902.69M 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 4 employees, 99% lower than Barkbox, Inc's reported 340 employees, and received an average PPP loan of $41,488, 99% lower than this company's loan of $5.16M.

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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